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This Cryptocurrency Could Experience a ‘Monster Breakout’: Analyst

Simon Osuji by Simon Osuji
October 17, 2024
in Business
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This Cryptocurrency Could Experience a ‘Monster Breakout’: Analyst
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The cryptocurrency market has delivered several coins that have soared extremely high quickly, generating millions in profits. The market has rewarded investors who took early entry positions, from meme coins to altcoins and other obscure tokens.

Also Read: Top 3 Cryptocurrencies That May Rally Over 30% This Weekend

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Analyst Predicts Huge Breakout for BOME Meme Coin

A pseudonymous cryptocurrency analyst Bluntz took to X highlighting the new meme coin BOME. He shared a chart with his 283,700 followers on the social media platform indicating that the meme coin could be the next big thing.

Also Read: Nvidia Dominates Earnings: Up 16% in a Month. Time to Buy or Sell?

Bluntz’s Analysis of BOME’s Breakout Potential

“BOME daily looking like a MONSTER breakout now. Surely I won’t cop heat for talking about a $700 million market cap coin,” he tweeted. Based on the chart, the analyst suggests that the cryptocurrency could surge by nearly 220% next. The price target for BOME is at $0.03, indicating that it could delete a zero in the charts soon.

The analyst explains that BOME could triple investors’ money in the short term as it’s geared up for a bull run. An investment of $1,000 today could turn into $3,200 if the price prediction of a 220% surge turns out to be accurate.

Also Read: Shiba Inu (SHIB) & Ripple (XRP) Price Prediction For October End

BOME Meme Coin Comes on the Radar in the Cryptocurrency Market

book of meme bome
Source: Coinpedia

Investors are on the lookout for the next big cryptocurrency that can deliver profits similar to those of other meme coins during their inception. Dogecoin, Shiba Inu, Pepe, and BONK, among other tokens, have generated massive profits. However, after the profit-making period ends, the meme coins have slumped, with no recovery in sight.

Also Read: Uber Stock Trades Near All-Time High: Is it Worth Buying?

BOME could be that cryptocurrency that could rally and with the right timing, investors could reap the profits. The meme coin was launched in March 2024 for $0.001. However, it quickly reached an all-time high of $0.02689 but dipped in the charts. It is now down 67% from its ATH but shot up nearly 47% in the last 30 days.

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