TL;DR

• Bitcoin (BTC) dropped under $61,000, however some Solana-based meme cash like Guide of Meme (BOME) are properly within the inexperienced.
• One other meme coin, Slerf (SLERF), spiked in value earlier than being concerned in a suspicious exercise that erased $10 million in investor funds.

The correction within the cryptocurrency market has intensified previously 24 hours, with Bitcoin (BTC) dropping under $61,000 for the primary time in two weeks. Nonetheless, some Solana-based meme cash proceed defying the unfavorable traits, witnessing substantial beneficial properties.

One evident instance is Guide of Meme (BOME), whose valuation briefly spiked by 30% on a each day scale earlier than barely retracing within the following hours.

Its market capitalization exceeded the $700 million mark, making it the 137th largest cryptocurrency. Recall that BOME was a part of the highest 100 membership earlier this week when its market cap neared a whopping $1.5 billion.

The asset is without doubt one of the newest meme cash constructed on the Solana blockchain. Launched a number of days in the past, it has already acquired assist from main crypto exchanges akin to Binance and Bitrue.

One other related token that has made waves as of late is the sloth-themed Slerf (SLERF). As CryptoPotato reported on March 19, its value peaked at virtually $1.30, doubtlessly fueled by big pleasure generated across the coin and assist coming from HTX.

SLERF was additionally one of many property a mysterious dealer handled to make a revenue (at the very least on paper) of roughly $3.5 million in lower than three days.

Nonetheless, its valuation is deep within the pink right this moment, whereas the token was additionally concerned in suspicious exercise, with the developer behind it by accident burning $10 million price of funds raised from traders in the course of the presale.

This got here as one other warning that meme cash will be fairly harmful and result in devastating losses. These keen to keep away from some widespread errors when coming into the ecosystem of a sure meme coin ought to watch our devoted video under: