The Book of Meow (BOMEOW) was recently launched in April but is already posing as a huge competitor for another memecoin named Book of Memes. In this article, let’s explore the different origins of each of the memecoins, the competition, and the current market performance of BOMEOW.
Interesting Launch of Book of Meow (BOMEOW)
It is the bull market, and it is usually characterized by the launch of many memecoins, including the Book of Meow (BOMEOW). However, the launch of BOMEOW has been nothing short of impressive, and it is currently unleashing the current feline-inspired frenzy within the memecoin community. Since the launch of this token, the marketing rollout is excellent, featuring in over 450 press releases. Apparently, this is what made the memecoin record a massive 10,268 SOL in their presale.
The BOMEOW presale took place from 30th March at 14 UTC to 02nd April at 17 UTC, and the launch on 03rd April at 14 UTC on Raydium Swap. Since then, BOMEOW has been impressive with its price surge, increasing 5x within the 24 hours of its launch. Moreover, it currently poses as a huge competitor for another memecoin named Book of Memes.
Book of Memes Has a New Competitor
Book of Memes (BOME) is another memecoin whose growth serves as a case study for other memecoins. Since launching in March, this memecoin has achieved a lot of things, including coming close to a $1 billion market cap and over $500 million trading volume. Apparently, it was built on the Solana blockchain and claims to offer a wide range of services, such as permanent storage for memes on the blockchain and tools for creating memes.
In fact, it even boasts of having a library of memes freely available for use (CC0 license). However, it looks like it has a new competitor after the launch of Book of Meow. The Book of Meow memecoin is more into creating NFTs that show the majestic portraits of regal cats and vibrant illustrations of playful kittens. Currently, The Book of Memes is miles ahead of The Book of Meow in terms of market cap and trading volume. Moreover, the price increases for the two memecoins have differences, with The Book of Memes emerging as the winner with over 1400% increase.
Current Market Overview of BOMEOW
At press time, BOMEOW is witnessing a massive decrease in the price chart, with over 50% dip in 24 hours. This may be due to the selling pressure of those who invested in the presale of the token. According to CoinMarketCap, the memecoin currently has a self-reported market cap of $17 million and a trading volume of $8 million. Moreover, there’s still a slight increase in the weekly chart at over 70%.
Conclusion
BOMEOW is a memecoin probably launched to serve as a competition for another memecoin named Book of Memes. On the one hand, The Book of Meow ventures into NFT of things ranging from the majestic portraits of regal cats to vibrant illustrations of playful kittens. On the other hand, The Book of Memes is more outrightly into providing a library of memes on the blockchain. When compared, The Book of Memes is still ahead of BOMEOW in terms of market performance, valuation, trading volume, and the community behind it.
The information provided in this article is for informational purposes only and should not be considered financial advice. The article does not offer sufficient information to make investment decisions, nor does it constitute an offer, recommendation, or solicitation to buy or sell any financial instrument. The content is opinion of the author and does not reflect any view or suggestion or any kind of advise from cryptonewsbytes.com. The author declares he does not hold any of the above mentioned tokens or received any incentive from the company.
