The Book of Meme price dipped 5% to trade for 0.0119 as of 04:16 a.m. EST time as trading volume fell nearly 40%.

It comes as investors shift their attention to meme coins that have stronger fundamentals with Floki (FLOKI), Dogecoin (DOGE) and Pepe (PEPE leading the sector rally with gains of 35%, 16%, and 14%, respectively.

Book of Meme Price Outlook

While the Book of Meme price is dumping, BOME bulls appear to be pushing, with the climbing Relative Strength Index (RSI) showing rising momentum. On lower timeframes, the Book of Meme price is confronting resistance due to the upper boundary of the descending parallel.

In the meantime, the odds still favor the downside as the RSI remains below the 50 midline. This stance is also reinforced by the position of the Moving Average Convergence Divergence (MACD) in negative territory.

With this, the Book of Meme price could suffer a rejection from the upper boundary of the channel. This is because momentum remains weak, seen with the RSI position at 35, and cannot steer the Book of Meme price above the governing chart pattern. A bearish move could send the Book of Meme price to the support floor at $0.0088.

TradingView: BOME/USDT 4-hour chart

However, if the bulls manage to flip the $0.0128 blockade into support, and close above it on the four-hour timeframe, it could encourage the sidelined bulls to come in. Enhanced buyer momentum, enough to set the Book of Meme price above the 50% Fibonacci placeholder would motivate even more buyers, sending the BOME price even higher. For the prevailing bearish outlook to be invalidated, however, the Book of Meme price must break and close above the $0.0234 blockade.

In a highly bullish case, the Book of Meme price could fill the market range at $0.0248, before a chance to reclaim the all-time high of $0.0294. Such a move would constitute a 152% climb above current levels.

As meme coins attempt a recovery, the DOGE20 presale is defying gravity with $4.5 million raised in less than a week.

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Promising Alternative To The Book Of Meme

The DOGE20 token powers the Dogecoin20 ecosystem, which aims to become the next Dogecoin or Shiba Inu (SHIB).

🚀 #DOGE20 isn’t just another Shiba Inu-inspired derivative.

Upholding Dogecoin’s ethos to Do Only Good Everyday, it offers passive rewards through on-chain staking. 🌱🌟

Embracing a greener, more sustainable future with the most widely loved #Memecoin in the world! 🐶 pic.twitter.com/zqlONodRPB

— Dogecoin20 (@DOGE_COIN20) March 14, 2024

Dogecoin20 is an ERC-20 project that’s set atop the Ethereum chain, enabling seamless staking rewards while at the same time enhancing market exposure because of Ethereum’s widespread use.

Elon Musk at Giga Berlin today.

“When will I be able to buy a Tesla with dogecoin?”
“At some point I think we should enable that.” 😂🔥 pic.twitter.com/Suk7bifuHC

— Sir Doge of the Coin ⚔️ (@dogeofficialceo) March 14, 2024

The distinguishing factor between Dogecoin and Dogecoin20 is that the latter embraces modern blockchain technology in the form of proof-of-stake (PoS) block verification. Unlike Dogecoin, the new meme coin also offers a staking option that enables holders to generate passive income.

By utilizing smart contracts powered by #Ethereum, #DOGE20 transcends being just a #Memecoin. 🐶💰

Bringing passive reward potential to the #Crypto Community! 🌟

Harnessing the power of your $DOGE20 #Tokens by #Staking and earning rewards. 💸 pic.twitter.com/19BxjvI2JJ

— Dogecoin20 (@DOGE_COIN20) March 14, 2024

Stakers now earn up to 205% in Annual Percentage Yields (APY), with upwards of 13 billion DOGE20 tokens already staked.

Dogecoin20 Tokenomics

Out of its total market supply of 140 billion tokens, 25% is earmarked for distribution during the presale phase itself. The other significant allocations are dedicated to marketing and the treasury, each also receiving 25%. This is followed by allocations for staking and liquidity for exchanges, for which 15% and 10% have been allocated, respectively.

🐕 While #Dogecoin enjoys popularity, its future value has been constrained by an infinite supply, constantly adding more #Tokens to the market. 💎#DOGE20 addresses this by introducing a fixed supply, enabling unrestricted upward pressure on the token price. 🚀🔄#Memecoins pic.twitter.com/xCwaVz0T1J

— Dogecoin20 (@DOGE_COIN20) March 19, 2024

The token is available for purchase at a price of $0.000203, with an increase coming in less than three days. Now is the chance to take advantage of low rates as DOGE20 will never be this affordable again.

Investors can buy DOGE20 using ETH, BNB, or USDT.

Visit the official website to buy DOGE20 here.

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• Source: https://insidebitcoins.com/news/book-of-meme-price-prediction-bome-plunges-5-as-investors-flock-to-this-dogecoin-2-0-presale-offering-a-205-apy