NEW BINANCE LISTING!🔥 | BOOK OF MEME (BOME) PRICE PREDICTION & NEWS 2024!

Summary

In 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

00:00

🚀 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.

Keywords

💡Selinix Crypto

Selinix Crypto appears to be the name of the channel or the host of the video, which is focused on cryptocurrency discussions. It is central to the video's theme as it sets the context for the content that follows. In the script, it is mentioned as the starting point of the video, indicating the source of the information being shared.

💡Book of Memes (BOM)

The Book of Memes (BOM) is described as a new meme coin in the cryptocurrency market. It is the main subject of the video, with the host discussing its rapid growth in market cap and trading volume. The term is used to denote a specific cryptocurrency that has gained attention quickly, as indicated by the host's commentary on its market performance.

💡Market Cap

Market Cap, short for market capitalization, is a measure of the total value of a cryptocurrency. In the video, it is used to illustrate the rapid growth of BOM from a low market cap to over $1 billion, highlighting the dramatic increase in value and investor interest.

💡Perpetual Futures

Perpetual Futures are a type of financial derivative that allows traders to speculate on the future price of an asset without an expiration date. The script mentions that BOM quickly got Perpetual Futures listings, which is unusual and suggests a coordinated effort to increase its visibility and trading volume.

💡Radium

Radium seems to be a platform or exchange mentioned in the script where BOM's trading volume was initially observed. The host notes that the volume on Radium was suspiciously high, suggesting potential market manipulation through spoofing.

💡Spoofing Volume

Spoofing Volume refers to a trading practice where large orders are placed and then quickly canceled to create the illusion of high trading activity. In the script, the host suggests that this practice may have been used to pump up the volume and hype around BOM, influencing its market perception.

💡Solana

Solana is a high-performance blockchain platform that supports decentralized applications and cryptocurrencies. The script mentions that BOM is associated with Solana, indicating that it is built on or related to this blockchain ecosystem, which is currently popular and contributes to BOM's appeal.

💡Binance Listing

A Binance Listing refers to when a cryptocurrency is added to the Binance exchange, one of the largest cryptocurrency trading platforms. The script notes that BOM received a Binance listing, which is significant as it increases the coin's accessibility and potential for further growth.

💡Meme Coins

Meme Coins are cryptocurrencies that are created as a joke or for fun, often based on internet memes. The video discusses BOM as a meme coin, emphasizing its rapid rise in popularity and value, which is typical of meme coins that gain traction due to social media and community interest.

💡FOMO

FOMO stands for 'Fear of Missing Out', a psychological phenomenon where people feel an urge to join an event or trend so as not to miss out. In the script, the host mentions that some people might FOMO into BOM, indicating that the fear of missing out on potential gains could drive further investment.

💡Technical Analysis

Technical Analysis is a method used in finance to predict the future price movements of assets based on past market data. The host uses technical analysis to discuss potential resistance levels for BOM, providing insights into how the market might react at certain price points.

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