BOME Leads Solana Memecoin’s Recovery Amid ETF Speculation

In the last 24 hours, Solana-based memecoins have surged, posting double-digit gains. This bullish trend follows heightened market speculation triggered by investment firm VanEck’s recent filing for the first Solana ETF in the United States.

The prospect of this ETF has injected optimism into Solana’s ecosystem, prompting an uptick in trading volumes across its associated memecoins.

Despite this growing interest in Solana, Bloomberg analyst James Seyffart suggests that the ETF will unlikely launch this year. He notes that significant regulatory shifts, potentially influenced by changes in leadership at the White House and the SEC, would be necessary for the ETF to come to market.

BOOK OF MEME (BOME)

After a bearish start in the last 24 hours, BOOK OF MEME (BOME) bullish momentum resurfaced after the filing managing to jump to the top gainer on CoinMarketCap and recording a 7-day high.

Consequently, the BOME price has swayed between an intra-day high and low of $0.01073 and $0.00901, respectively. At press time, BOME was trading at $0.0107, a 17.20% surge from the 24-hour low.

Source: CoinMarketCap

During the rally, BOME’s market capitalization and 24-hour trading volume surged by 16% and 124% respectively to $736,722,054 and $179,342,372.

Solana Memecoin Dogwifhat (WIF)

Dogwifhat (WIF) has also experienced a positive shift despite a bull-bear tussle for control in the last 24 hours with the price moving between an intra-day high and low of $2.24 and $1.98, respectively.

However, despite the rally, WIF is still down 37% in the last month and 56% from its all-time high of $4.85 hit on March. At press time, WIF was trading at $2.11, a 5.20% surge from the support level and a 4.75% surge in the last week.

Source: CoinMarketCap

Concurrently, WIF’s market capitalization and 24-hour trading volume saw a 5.13% and 16.20% surge respectively to $2,113,248,571 and $556,121,389. This surge reflects an increasing investor interest as traders anticipate an explosive rally if the Solana ETF is to be approved.

Bonk (BONK)

Solana memecoin Bonk (BONK) was bearish in the early part of the day with bears dipping price to an intra-day low of $0.0000215 where support was established.

However, BONK has since recovered with the price recording a 7-day high of $0.00002493 after a 15% rally.

Source: CoinMarketCap

The recovery has however yet to erase the bearish momentum experienced in the last month with the BONK price still down 40% and 49% from its ATH of $0.00004704 in March. During this recovery, BONK’s market capitalization and 24-hour trading volume surged by 11% and 40% respectively to $1,668,475,548 and $267,138,277.

Read Also: VanEck Files Application For First Solana ETF With US SEC