GALA and BOME: Exploring Their Contrasting Trajectories in Crypto

GALA Stays Steady While BOME Suffers a 28% Drop in 24 Hours

On March 17, GALA and Book of Memes (BOME) stood out in the crypto market rally. Both witnessed significant gains, joining the league of top performers alongside Jupiter (JUP), Aptos (APT), and Arbitrum (ARB).

According to CryptoDep, GALA and BOME ranked among the leading gainers on March 17. However, their fortunes took different turns soon after.

While GALA's price experienced marginal fluctuations, it maintained stability. At present, it trades at $0.06172 with a market cap exceeding $1.8 billion.

Contrarily, BOME entered a bearish phase, witnessing a staggering 28% decline in just 24 hours. Currently, Book of Memes trades at $0.01355, with a market cap surpassing $748 million, positioning it as the 115th largest crypto.

Santiment data reveals GALA's buying and selling pressure and technical analysis signaling bearish sentiment, while BOME's price volatility weakens and market sentiment turns negative

Santiment's data suggests that GALA faces moderate buying and selling pressure. The token's supply on and off exchanges remains relatively stable. Additionally, whale activity has been subdued, with no significant accumulation observed among top addresses.

Technical analysis reveals bearish signals for GALA. The MACD indicator signals a bearish crossover, while the Money Flow Index (MFI) indicates a downturn, hinting at a possible price decrease in the coming days.

Following a surge, BOME's weekly price volatility subsided, accompanied by a decline in trading volume after the initial spike on March 17. These trends suggest a downward trajectory for BOME.

Market sentiment analysis indicates a decline in positive sentiment towards BOME post-surge, suggesting a rise in bearish sentiment. Furthermore, a decrease in social volume reflects waning popularity for the memecoin.