With a 26% Price Surge and 573% Volume Boom, Could BOOK OF MEME Go Parabolic?

• BOOK OF MEME rallies over 26%, reaching $0.0022.
• BOME’s trading volume has skyrocketed by 573%.

The in-progress market sentiment is neutral across the assets. With the recent recovery attempt, the crypto market cap sits at $4 trillion. All the major tokens have entered the bullish zone. In the meantime, the meme coin market cap has surged by over 9.4%, and is found settled at around $77.6 billion. Among the meme coins, The BOOK OF MEME (BOME) has registered a 26.83% jump

In the early hours, the meme coin traded at a low of $0.00171. Later, the ignited bullish power has tested and broken through the crucial resistance range between $0.00176 and $0.002401, which pushed the BOME price to climb to a high range of $0.002406. A persistent uptrend could avoid falling back to a bearish phase

As per CMC data, at the time of writing, BOOK OF MEME traded at around the $0.002229 mark, with its market cap reaching $152.72 million. Consequently, the daily trading volume of the meme coin has skyrocketed by over 573% to $214.27 million. Moreover, the market saw a 24-hour liquidation of $1.14 million in BOME

Will BOOK OF MEME Extend Its Uptrend?

BOOK OF MEME’s Moving Average Convergence Divergence (MACD) line is positioned above the signal line. It indicates a bullish trend and the upside price trajectory. Notably, to assess the capital inflow, the Chaikin Money Flow (CMF) indicator is located at 0.24, suggesting a fairly strong positive value, with the capital flowing into the asset. Also, the buyers are clearly dominant in the BOME market

*BOME chart (Source: TradingView)*Additionally, the Relative Strength Index (RSI) for the day was found at 71.01, which implies that BOME is in the overbought zone. There is a risk of a pullback. BOOK OF MEME’s Bull Bear Power (BBP) reading settled at 0.000660 is slightly positive. This signals weak bullish dominance. If the value turns negative, the bears may step in and regain control of the asset

The active bullish momentum of BOME might trigger the price to rise to its nearest resistance at $0.002236. A strong upper trend line could find the golden cross, which drives the price up to break beyond the $0.002243 range. Assuming a comeback of bears, it could pull the BOOK OF MEME price downward to a support at $0.002222. With the emergence of the death cross, the price may enter a deeper correction and test $0.002215.

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