NEW BINANCE LISTING!🔥 | BOOK OF MEME (BOME) PRICE PREDICTION & NEWS 2024!
Summary
TLDRIn this video, the host discusses the rapid rise of a new meme coin, BOM, which has quickly reached a market cap of over $1 billion. They speculate on the possible manipulation of volume through 'spoofing' and the potential for this to be an 'inside job.' The video highlights BOM's bullish momentum, with a recent Binance listing and perpetual futures, while cautioning about the volatility and importance of monitoring resistance levels and open interest for signs of a potential top.
Takeaways
- 🚀 The video discusses a new meme coin called BOM, which has rapidly increased in market cap to over $1 billion.
- 💡 BOM's quick rise to popularity is likened to an 'inside job' due to its sudden and significant increase in volume and market cap.
- 🔍 The coin was launched recently, with its initial listing on CoinMarketCap just two days prior to the video recording.
- 🌐 BOM's rapid listing on various exchanges and platforms, including Perpetual Futures, raises questions about the forces behind its hype.
- 💰 The speaker suggests that BOM's high volume might be artificially inflated by 'spoofing', where large amounts of Solana are quickly bought and sold to create the illusion of high trading activity.
- 📈 Despite skepticism, the speaker acknowledges the bullish sentiment around BOM, with a recent listing on Binance and a significant increase in volume.
- 📊 The video mentions the importance of technical analysis in understanding BOM's trajectory, with resistance levels and open interest being key indicators.
- 📉 The potential for BOM to experience a bearish breakout is noted, especially in response to the Binance listing, which has varied effects on meme coins.
- 🎯 The speaker predicts that BOM could reach 2.5 cents, with psychological resistance levels being crucial for determining the coin's future performance.
- 🤔 The video highlights the need for caution and awareness, as the newness of BOM and the FOMO (Fear of Missing Out) effect could influence investor behavior.
- 🔮 The final takeaway is a reminder that while the current momentum is bullish, the cryptocurrency market is volatile, and investors should be prepared for sudden changes.
Q & A
What is the main topic of the video?
-The main topic of the video is the discussion of a new meme coin called 'BOM' and its rapid rise in market cap and trading volume.
What does the speaker suggest about the initial market cap of BOM?
-The speaker suggests that BOM started with a very low market cap and quickly rose to over $1 billion.
Why does the speaker believe the volume on Radium for BOM might not be entirely real?
-The speaker believes that some individuals with a lot of Solana might be spoofing the volume by quickly buying and selling, creating an illusion of high trading activity.
What role does the Solana ecosystem play in the context of the video?
-The Solana ecosystem is described as being very hot, which provides an ideal circumstance for meme coins like BOM to gain traction and attention.
What does the speaker imply about the BOM coin's listing on exchanges?
-The speaker implies that BOM's high volume might have either convinced exchanges to list it for profit or that there might have been some financial incentives or connections involved in the listings.
What is the current trading volume of BOM according to the speaker?
-The current trading volume of BOM mentioned by the speaker is $3.1 billion.
What recent listing did BOM receive that the speaker finds noteworthy?
-BOM received a listing on Binance, which the speaker finds particularly noteworthy due to its significance in the cryptocurrency market.
How does the speaker describe the current momentum of BOM?
-The speaker describes the current momentum of BOM as bullish, with the price consistently rising and breaking through resistance levels.
What technical analysis does the speaker provide for BOM's price movement?
-The speaker provides an analysis that suggests BOM's price could potentially rise to 2.5 cents, and possibly higher, depending on how it reacts at key psychological resistance levels and the behavior of open interest.
What advice does the speaker give regarding the potential risks of investing in BOM?
-The speaker advises that while the current trend is bullish, investors should be cautious and watch for signs of a bearish breakout or a drop in open interest at key resistance levels, which could indicate a market top.
What does the speaker suggest about the future of BOM based on its current trajectory?
-The speaker suggests that BOM might experience an acceleration phase with a big spike up, followed by a strong resistance level where the open interest falls and a bearish breakout could mark the top of its rise.
Outlines
🚀 Explosive Growth of a New Meme Coin
The video discusses the rapid rise of a new meme coin, BOM, which has quickly gained a market cap of over $1 billion. The presenter speculates that this could be an 'inside job' with significant financial backing to pump up volume and hype. The coin was listed on CoinMarketCap just two days prior, and its volume on Radium was suspiciously high, suggesting market manipulation through spoofing. The presenter also notes the coin's listing on Binance and its Perpetual Futures, which are signs of bullish momentum. However, the video cautions about the coin's volatility and the need to monitor its reaction to the Binance listing and resistance levels.
Mindmap
Keywords
💡Selinix Crypto
💡Book of Memes (BOM)
💡Market Cap
💡Perpetual Futures
💡Radium
💡Spoofing Volume
💡Solana
💡Binance Listing
💡Meme Coins
💡FOMO
💡Technical Analysis
Highlights
Introduction to the newest meme coin, BOM, which has rapidly gained a market cap of over $1 billion.
Suggestion that BOM's rapid growth might be an inside job due to its quick rise in volume and market cap.
Mention of BOM's immediate listing on Perpetual Futures, which is unusual for a newly launched coin.
The presenter's observation of BOM's high volume on Radium, indicating possible spoofing to create hype.
Discussion on the ideal circumstances for BOM's growth, including the popularity of Solana and meme coins.
Analysis of BOM's potential connections with exchanges and the possibility of paid listings.
Current volume of BOM at $3.1 billion and speculation on the percentage of supply owned by the promoters.
Binance listing of BOM and its immediate impact on the market.
The presenter's bullish outlook on BOM despite acknowledging its volatility.
Technical analysis of BOM's price movements and resistance levels.
Prediction of BOM's potential to reach higher price points based on market cap comparisons.
The importance of watching for bearish breakouts and open interest changes as indicators of market sentiment.
The presenter's caution about the psychological resistance levels and their impact on BOM's price.
Speculation on a potential acceleration phase for BOM, leading to a spike and possible top of the market.
Acknowledgment of the FOMO effect as new investors learn about BOM and contribute to its growth.
Closing remarks inviting questions and summarizing the current state of BOM.
Transcripts
good morning everybody welcome back to
selinix crypto and welcome to obviously
a video on the bom or book of memes I
think it's the is is the newest meme
coin which is uh this might be one of
the craziest stories in the last uh in
the last well weeks at the very least uh
because this I mean this almost I I said
it in in some groups that I'm in earlier
this morning it almost feels like an
inside job I mean this has gone from
from a from a very low market cap uh to
to a market cap of of over $1
billion uh very quickly like I'm not I'm
not even sure when this launched I mean
if you look at the price on coin market
cap it was two days ago that it launched
and I saw it instantly because bom also
instantly got some Perpetual Futures
listings and that's what I find weird
like there's even there's either a party
behind this with a lot of money uh
pumping up sort of the the volume and
the and and the hype around bom or it's
just yeah no that must be it to to be
completely honest I mean what you saw
instantly is that the volume on radium
which I mean Solana either way is very
hot all right Solana is hot um the
ecosystem is hot but meme coins on
Solana are also hot so the the
circumstances let's be let's be honest
about that were ideal for a coin like
this uh but then what you saw initially
because I I saw this from the beginning
I never bought because I thought what
the hell is this um which is one of my
weak weaknesses uh but but I instantly
saw that it had like $500 million in
volume from radium so that cannot all be
real so what that means is that some
some Wheels with a lot of Solana are
basically like spoofing volume like they
they're buying and selling very quickly
after each other and then you you see
the volume going up a lot that is real
volume in a way that it does make real
fees Etc um but that's either that
created the the Illusion for exchanges
that they should all list it because it
has major volume they can make money or
they also had some connections with with
exchanges and they paid a lot of money
to get it listed there and it's paying
off I mean the volume right now is $3.1
billion if they had like 10% of the
supply which I'm not even sure if they
had um but um it does seem like it's
something like that to be completely
honest um but but if they have like 1%
of the supply that that's already enough
to pay everything of that of that off I
think um yeah I do think so so overall
very bullish but it also got a binance
listing earlier this morning which is
even crazier but you saw that it also
very quickly got a Perpetual Futures
listing very quickly was listed on buy
bits Perpetual Futures so in general
very bullish but that also means that
it's volatile all right this morning I
made an analysis on it uh main
resistance back then was still 1.5 cents
we blasted through that so purely like
just just being honest I don't really
have an opinion on bom but at this
moment it looks bullish like there's
nothing bearish I can see about bom uh
the momentum is still going up every 5
minutes as you can see we have some
sell-offs here and there but nothing
major the big thing we need to know is
how it will react to the binance listing
like we've seen meme coins drop down
massively because of that but more
recently whiff just did not really react
to that so I think we just need to go
off of the technicals right what's
happening right now is that we're
smashing through resistance levels if
you look at the market cap and you
compare that with a market cap of other
memes I would say this can still go much
much higher but we have to wait for for
for some sort of confirmation all right
right now it seems very likely we're
going up to 2.5 cents but at every one
of those key psychological resistance
levels we have to see will it find will
the open interest drop down from there
if yes we're losing momentum if we get a
bearish breakout then that might be the
top but for now it doesn't seem like
we're at the top all right 2.25 is a bit
of a resistance uh but it seems most
likely we're going up to 2.5 cents and
like I said if we get to 2.5 cents and
the open interest keeps increasing and
we don't get any bearish breakouts we'll
go up to three cents and the same story
there and the same story at 3.5 same
story at 4 cents but those psychological
levels are your best friends and then at
some point of time what's going to
happen is that we probably have some
sort of some sort of an acceleration
like a big spike up and then we find a
strong resistance level the open
interest falls down we get a bearish
breakout and that's the top but like I
said it it doesn't look like the top is
in it's it's also very new so some
people are starting to learn about it
right now and they fomo
in um which is not even perhaps that bad
of an idea given the fact that the
market cap of some of these other meme
coins is much higher than this uh but
that's what I think you need to know for
now so if you do have any questions let
me know down in the comments but for now
thank you for watching take care and
bye
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