- Coinbase, the crypto exchange giant, has announced the transition of Book of Meme (BOME) and Notcoin (NOT) to “order-only” mode in its perpetual futures contracts.
- Following this decision, significant price increases were observed for both cryptocurrencies.
- BOME and NOT have consequently garnered heightened interest within the crypto community.
Discover the latest developments as Coinbase boosts support for emerging meme coins BOME and NOT, triggering remarkable market reactions.
Coinbase Endorses Book of Meme, Ignites Price Surge
Book of Meme (BOME), an innovative project operating on the Solana blockchain, has received substantial backing from Coinbase. Created by crypto artist Darkfarms, BOME aims to curate a decentralized digital archive of memes, leveraging advanced technologies like Arweave and InterPlanetary File System (IPFS). Beyond being a fun endeavor, the project integrates real-world technologies to safeguard digital culture. Future plans include integration with the Bitcoin blockchain, promising continuous innovation in digital archiving.
Significant Price Movement for BOME
The native token of the BOME platform, also named BOME, incentivizes participation in decentralized storage activities and is traded on various crypto exchanges. As of the latest data, BOME’s price experienced a 3.41% uptick, reaching $0.008828. Previously achieving a market cap of $1 billion, the recent price surge reflects growing interest and confidence in the project’s unique vision and potential.
NOT Coin Experiences Volatility Amid Market Trends
Notcoin (NOT) has displayed a more volatile performance. Despite experiencing a downward trend last week, the token has shown resilience and growth potential. Over the past month, NOT’s price has surged by an impressive 130%, indicating a generally upward trend. Currently, NOT is trading within a range of $0.015 to $0.021. However, prevailing market trends indicate a potential bear market.
Market Outlook for NOT Coin
Analysts caution that if the bear market prevails, NOT could find support around $0.015, with prolonged declines possibly driving the price down to $0.012 or even $0.01. Nonetheless, an unexpected development saw Bitcoin’s price rise to $0.01591 today, significantly disrupting the bear market trend. The rise in BOME’s price and market cap underscores investor confidence in its unique approach, integrating technologies like Arweave and IPFS to merge entertaining elements with concrete technological solutions, establishing a pioneering position in the meme coin sector.
Conclusion
In summary, Coinbase’s move to support BOME and NOT has led to notable market reactions, with both cryptocurrencies seeing significant price movements. BOME’s innovative approach to digital culture preservation and NOT’s resilience amidst market fluctuations highlight the dynamic nature of the crypto market. Investors and enthusiasts should keep a close eye on these developments as they unfold.
