Key Points
- Both SOL and BOME outperformed the ETH and BTC’s popularity in the crypto market during the past week, just in time for SOL’s Genesis Day.
- Data coming from Santiment suggests that high popularity could be due to massive excitement coming from retail investors.
Although a lot of eyes continue to follow Bitcoin’s moves in the crypto market, it looks like the stars of the past weekend were Solana’s SOL and The Book of Meme (BOME), a meme coin that’s built on Solana.
According to a market insight post, Santiment notes that “$BOME and $SOL are the top two trending assets across X [formerly Twitter], Reddit, Telegram, and 4Chan due to their outperforming the markets as of late.”
The crypto industry sees SOL and BOME as great alternatives to Ethereum-based projects, according to the same report.
At the moment of writing this article, SOL is priced at $204,95, according to CoinMarketCap and the coin is up 37,81% in the past seven days.
BOME saw exciting moves as well, with the meme coin showing a surge of 1,448% since March 14. Now, BOME is priced at $0.01425 on CMC.
On March 16, Binance listed BOME perpetual futures, which triggered more attention to the project.
Meanwhile, the Bitcoin correction seen during the weekend also triggered a drop in Ethereum’s price despite the important Dencun upgrade that marked the past week. Now, Bitcoin is trading at $67,925, while ETH is priced at $3,575.
A Boost in Attention Surrounds SOL
According to the official data reported by Santiment, the number of mentions, including “SOL,” rose to 322, and it’s important to note the fact that there’s been a similar spike back in December, which led to a peak in price for the digital asset, SOL reaching $125. The price rise was followed by a correction that plunged SOL straight to $85.
Google Trends also reflects a continuous rise in SOL’s popularity. SOL saw a provisional value of 100 regarding the worldwide search query “solana.” In other words, this score mirrors peak popularity or the maximum number of searches noted in a term and during a given time frame.
The crowd’s cheering for Solana came just in time for March 16th, when SOL celebrated its birthday:
🎂 happy birthday to solana 🥳
on march 16, 2020, lockdowns were spreading financial panic globally. that day the dow dropped 12.9%, bigger than any day in the great depression.
every founder we talked to, across all of tech, not just crypto, cancelled their launch. investors… https://t.co/cH3avxFrQ5
— raj 🖤 (@rajgokal) March 16, 2024
It’s safe to say that Solana outshined the two market leaders, Bitcoin and Ethereum, recently, just in time for the celebration of its Genesis Day.