Should DOGE, SHIB, PEPE, and FLOKI be Worried?

Yet another Solana-based memecoin has made the headlines by surging more than 5000% in a day. BOOK OF MEME (BOME), gained huge attention from investors and traders as the token recorded a market cap of over a billion during the second day of its trade. With this, the memecoin has made an official entry into the top 100 cryptos with an iconic rise of nearly 372% in the past 24 hours. Moreover, the token is the 5th most traded token, excluding stablecoins, with a volume of over $3.5 billion. 

Having said that, should this be a matter of concern for the other top memecoins like DOGE, SHIB, PEPE, FLOKI, BONK, or WIF?

Ever since the PEPE price triggered a massive rally, almost all the memecoins have gained mainstream attention. Soon after this, Shiba Inu, Bonk, and Dogecoin, along with Floki, surged magnificently, which was followed by a newly launched memecoin, dogwifhat (WIF). Therefore, the memcoin mania appears to have gained the upper hand, which may escalate with the token being listed on the popular exchanges. 

It has to be noted that soon after Binance announced the listing of BOME, the price began to consolidate. This pattern has been seen previously with Shiba Inu, Floki, and Pepe, where the prices faced significant selling pressure after being listed on Binance. Currently, the BOME price has dropped over 17% from its highs and is expected to maintain a sideways trend for a while. 

Besides, the memecoin leaders, Dogecoin and Shiba Inu, are out of reach of BOME, while Pepe, dogwifhat, Floki, and Bonk may be replaced by BOOK OF MEME if the bulls remain lenient on the newly launched memecoin. Now that the crypto space is full of surprises, one needs to wait and watch for the next price action.