BOOK OF MEME (BOME), the meme coin released by Pepe meme artist Darkfarm, caught strong attention from the community as soon as it was launched yesterday (14). What exactly caused such a high level of interest in BOME right after its launch? This article will explore it with you.
Summary:
Bitcoin fell below $68,000 and Ethereum lost the $3,800 mark in the cryptocurrency market early today. Dog-themed meme coins DOGE and SHIB also experienced a decline.
Background:
Elon Musk’s beloved dog meme coin Floki officially announced the destruction of $47 million worth of tokens! Its surge this month has exceeded 400%.
Table of Contents:
Meme Album – BOOK OF MEME
Who is Darkfarms?
What is BOOK OF MEME?
Presale Launch
On the 14th, BOOK OF MEME (BOME) released by Darkfarm, the Pepe meme artist, flooded various social platforms and skyrocketed 20 times in just three hours after going live, with a market value exceeding $80 million. What caused such rapid growth?
Darkfarms is an artist specializing in Pepe meme art. His most well-known work prior to BOME was the NFT series called SMOWL, featuring Pepe as the theme. The release price for that artwork two years ago was 0.04 ETH, and its floor price before the BOME boom was around 0.047 ETH. It has now risen to 0.2 ETH.
In addition to this work, Darkfarms has been creating Pepe meme art and NFT series for many years. Here are some examples from his personal website:
On March 10th, Darkfarms started teasing the upcoming launch of a project. On the 12th, he revealed the project “BOOK OF MEME” and its concept. Darkfarms stated that BOOK OF MEME is:
“a shitcoin, a continuously updatable e-magazine, a multifunctional tool for creating memes, a CC0 meme gallery, with all unminted JPEG links. It might even be a decentralized social network, a single NFT linking everything, and a small gif on the Solscan browser.
BOOK OF MEME captures the current Meme meta (data), including most Meme coins on the chain. The data is stored on Arweave/IPFS/inscriptions and can even be used as a cross-chain storage social platform. But mainly, it is a book that I can update and add new memes and new styles to.
In short, BOOK OF MEME is a permanent storage album for memes and will expand into a series of meme creation features.”
Darkfarms demonstrated some of the features of BOOK OF MEME, such as converting images into glitch pixel art:
Storing meme creation content permanently on platforms like Arweave/inscriptions/IPFS.
On March 13th, Darkfarms launched the presale. Participants could join by sending SOL to a designated Solana address. The presale did not have a fixed price, and tokens were distributed to participants based on the proportion of SOL they donated.
The progress of the presale far exceeded Darkfarms’ expectations. The original fundraising target was only 500-600 SOL, so he initiated a community vote to let participants decide how to allocate the presale funds. According to the disclosed data from Darkfarms, a total of 10,131 SOL was raised.
At 3:00 PM, Darkfarms added all the raised SOL to the LP pool, with an initial price of $0.03496 USDT. Subsequently, the token spread widely in the Chinese and English communities. Due to its deep liquidity, it was able to accommodate a large influx of funds, and a significant number of buy orders over 100 SOL continued to drive its price up. BOME reached a peak price of $0.0012 USDT, a 24-fold increase, with a market value exceeding $80 million.
Currently, BOME is still rising and has entered the second tier of Solana meme market value. Whether it can become the next million-dollar meme remains to be seen in the market game.
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