Book of Meme (BOME) has faced a significant decline, currently trading at $0.009857, reflecting an 11.57% drop over the past 24 hours. This sharp decline places Book of Meme among the top losers today, indicating increased market volatility and potential investor unease.
With a market capitalization of approximately $679.73 million, Book of Meme is ranked as the 95th largest cryptocurrency by market cap. This valuation highlights its considerable presence in the cryptocurrency market, despite the recent downturn. The substantial market cap suggests a significant level of investment and market confidence, although the recent trend indicates a shift in sentiment or increased selling activity.
The 24-hour trading volume for Book of Meme is $284.22 million, marking a 25.39% increase from the previous day. This surge in trading volume results in a volume-to-market cap ratio of 42.03%. A high volume-to-market cap ratio indicates that a significant portion of Book of Meme’s market cap is being actively traded, reflecting substantial market activity and liquidity. Despite the increase in trading volume, the continued decline in price suggests that market participants may be reacting to negative news or broader market trends.
Book of Meme has a circulating supply of 68,961,771,856 BOME, which matches its total supply. This means that there are no additional tokens expected to be released into the market, contributing to the asset’s scarcity and potentially affecting future price dynamics. The fully diluted market cap, representing the market value if the entire supply were fully in circulation, is approximately $676.22 million. Since the circulating supply matches the total supply, the fully diluted market cap is nearly equivalent to the current market cap.
The alignment between the circulating supply and the total supply, coupled with the absence of a maximum supply cap, suggests that Book of Meme’s supply dynamics are straightforward and predictable. However, the recent sharp decline in price despite high trading volume indicates significant market volatility and potential concerns among investors.
Overall, Book of Meme (BOME) presents a complex profile in the cryptocurrency market. Its significant market cap and high trading volume reflect an active market presence and substantial liquidity. However, the sharp decline in price and high volume-to-market cap ratio suggest heightened volatility and potential investor unease.
Investors should closely monitor Book of Meme’s ongoing market performance and any relevant news or developments that could impact its future outlook. The current metrics indicate that while Book of Meme is a notable asset within the cryptocurrency market, it is currently experiencing significant volatility. As always, a careful assessment of market conditions, news, and broader trends is essential for making informed investment decisions in the dynamic and often unpredictable cryptocurrency sector.
