BOME saw large amounts of volatility in the past few days, being a $1 billion market cap meme coin. Prices began to recover recent losses.
saw a retracement begin on the 16th of March. Prices fell by 49% over the next 24 hours to reach a key support level. Speculator sentiment also leaned in favor of the sellers.on these developments, noting that $100 million has been lost to phishing attacks already this year.A near 50% pullback in a day was a relatively steep drop, even though a 150% rally occurred within just six hours on the 16th of March.
Bulls managed to defend this level and drive prices higher. A move above the $0.0247 level would flip the market structure bullishly. Even though the price action was bullish, the OBV has trended downward over the past 36 hours. The selling volume has been persistent, and the buyers did not yet have the upper hand.Short sellers seize the opportunity during volatilityOn the 17th of March, BOME fell from $0.0246 to $0.0152. During this 38% plunge, the Open Interest behind the token surged from $40.2 million to $51.8 million.Is your portfolio green? Check out theThis highlighted strong bearish sentiment amongst speculators.
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