BOME saw a notable 11.31% increase over the past week.
Solana meme coins surged following VanEck’s filing for a Solana ETF.
The cryptocurrency market has faced challenges recently amid a bearish trend, with many tokens hitting new lows. However, optimism has emerged as prices start to rebound. Particularly, Solana meme coins have soared in the last 24 hours, driven by news that investment firm VanEck filed for the first Solana ETF in the US.
Coins like BONK, POPCAT, PONKE, and BOME have recorded significant gains. BOME, in particular, displayed a slightly bullish trend, gaining 8.62% in value to reach $0.01013. Its trading volume surged by 238% to $224 million.
VanEck’s Solana ETF filing echoes the regulatory path of Bitcoin and Ethereum ETFs, which faced considerable obstacles. Bloomberg Intelligence analyst James Seyffart noted that the ETF’s launch could be delayed until mid-March 2025 due to the initial lack of a formal 19b-4 filing upon submission.
Nevertheless, Wall Street’s increasing embrace of digital assets signals rising interest in cryptocurrency investment options within mainstream financial markets.
Will BOME Reach New Highs?
BOME has shown significant price volatility, dropping 31.59% in the past month but recovering by 11.31% in the last week. Its daily Relative Strength Index (RSI) currently stands at 49.17, indicating a neutral momentum, with the EMA signaling a sell.
Looking ahead, if BOME continues its upward trajectory, it could encounter initial resistance at $0.01020, followed by $0.01028. Further gains might push its price towards $0.01037. Conversely, a decline from current levels could find support initially at $0.00912, with potential further support at $0.00806 and $0.00712 if selling pressure persists.
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