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- BOME slumped after its top holder, sundayfunday.sol, sold 340 million units of the crypto token.
- Sundayfunday.sol invested 420 SOL, worth $67,200, in BOME during the initial fundraising.
- The sell-off caused BOME to lose over 70% of its recently achieved value.
The newly launched Solana-based memecoin, BOOK OF MEME (BOME), slumped after its top holding address, sundayfunday.sol, sold 340 million units of the crypto token. The sale reportedly generated 18,660 SOL, with an average selling price of $0.0107 and a profit of $3.62 million.
On-chain data shows the holder executed the transaction in seven installments, six batches of 50 million BOME and one batch of 40 million tokens. According to reports, the top holder’s BOME balance after the transaction is 900 million. Meanwhile, the memecoin’s value fell by 47% in 24 hours, leading the address’s assets to shrink to $8.38 million.
Sundayfunday.sol became BOME’s top investor after investing 420 SOL, worth $67,200, in the memecoin project during the initial fundraising exercise. The cost of BOME at the time of the investment was around $0.00004691, and the investor generated up to $34.56 million in profit at BOME’s peak price.
BOME’s price rose to $0.02689 shortly after it launched on the Solana blockchain. The memecoin gained significant adoption in the crypto space following its listing across multiple crypto exchanges, including top platforms like Binance, HTX, and Bybit.
According to data from the Solana Explorer, Solscan, sundayfunday.sol earlier sold 190 million BOME in a transaction across seven installments. It was the first sell-off by the wallet and resulted in a $3.76 million profit at an average cost of $0.00004691 per token.
The series of sell-offs by sundayfunday.sol caused BOME’s price to drop significantly. As of the time of writing, the newly launched memecoin had lost over 59% of the recently achieved high and traded for $0.01036, according to data from TradingView. According to CoinMarketCap, the cryptocurrency’s market capitalization is $584 million.
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