BOOK OF MEME (BOME), the meme coin released by Pepe meme artist Darkfarm, has attracted strong attention from the community since its launch on the 14th. What caused BOME to gain such a high level of attention immediately upon its release? This article will explore this question.
Background:
In the cryptocurrency market, Bitcoin has fallen below $68,000, and Ethereum has lost support at $3,800. Doge and Shiba Inu, meme coins in the dog-themed category, have lost their momentum.
Musk’s Dog Meme Coin: Floki, officially announced the destruction of $47 million worth of tokens! The explosive 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 Pepe meme artist Darkfarm went viral on various social platforms. Within just three hours of its launch, it surged 20 times, reaching a market value of over $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 SMOWL, featuring Pepe as the main theme. Released two years ago, it had an initial price of 0.04 ETH and a floor price of approximately 0.047 ETH before the BOME hype. Currently, it has 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, an updatable e-magazine, a multifunctional tool for creating memes, a CC0 meme image library with all unminted JPEG links. It might even be a decentralized social network, a single NFT connecting 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 with a series of meme creation functions.”
Darkfarms showcased some features of BOOK OF MEME, such as transforming images into glitch pixel art:
Permanently storing meme creation content on Arweave/inscriptions/IPFS, etc.:
On March 13th, Darkfarms opened the presale, allowing participation by sending SOL to a designated Solana address. The presale had no 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. Therefore, he initiated a community vote to let participants decide how to allocate the presale funds. According to the data disclosed by Darkfarms, a total of 10,131 SOL was raised.
At 3 pm, Darkfarms added all the raised SOL to the LP pool, with an initial price of $0.03496 USDT. Subsequently, the token started to spread widely in the Chinese and English communities. Due to its deep liquidity and ability to accommodate a large influx of funds, a significant number of buy orders of over 100 SOL continued to push up the price. BOME reached a peak price of $0.0012 USDT, an increase of approximately 24 times, with a market value exceeding $80 million.
Currently, BOME is still experiencing continuous growth and has entered the second-tier level of Solana meme market value. Whether it can become the next million-dollar meme remains to be seen in the market game.
Related Reports:
Can low-cost meme coins outperform the overall market gains?
Analyzing 3 million tweets confirms: Musk’s random tweets and Twitter bots can “significantly boost” meme coins.
Is buying meme coins during a bear market the dumbest choice?