Solana Memecoin BOME Hits $600 Million Market Cap In Less Than Two Days

Solana memecoin season shows no signs of slowing down amid the ongoing crypto market volatility.

The latest sensation is Book of Meme (BOME), which started out as an innocuous presale by meme artist and NFT creator Darkfarms three days ago and has since rocketed to a market capitalization of more than $600 million.

According to the website, which is hosted on decentralized storage platform Arweave, BOME is “poised to redefine web3 culture by amalgamating memes, decentralized storage solutions, and degen shitcoin trading and gambling.”

The site contains a collection of unpublished memes, a ‘meme enhancer’ tool, and plans for a potential Bitcoin Ordinals collection. The presale, which was open to everyone for 24 hours, raised over 10,000 SOL ($1.8 million), half of which was deployed as liquidity for the token. Presale participants are currently up more than 100x on their initial stakes.

The top individual holder, sundayfunday.sol, contributed 420.69 SOL ($75,000) to the presale and received roughly 2% of the BOME supply. They have yet to sell any of their tokens – worth more than $11 million at the time of writing.

The runaway success of Darkfarms’ latest venture has spilled over into their existing NFTs, with the floor price of Smowls, a collection of stylized Pepes, soaring to 0.6 ETH ($2,280) from 0.05 ETH ($200) before BOME was launched.

Darkfarms did not immediately respond to a request for comment from The Defiant.