- Binance enables algorithmic Spot trading bots for popular SOL memecoins.
- Book Of Meme, Dogwifhat sets foot in crypto market correction this Friday.
- Previously, the crypto titan unfolded new BOME and WIF pairs on Margin.
Binance, the leading cryptocurrency exchange, has announced the expansion of its Solana-based memecurrency tokens. To meet trading demand, Binance will activate Spot Algo Orders Trading Bot services for Book Of Meme (BOME), Dogwifhat (WIF), and Jito (JTO).
According to the official announcement, BOME, WIF, and JTO pairs trading against USD Coin (USDC) will open on 2024-04-05 at 08:00 (UTC). These Spot trading bots enable the user to configure an automated crypto trading strategy with these coins, depending on the price range they are trading in.
BOME, WIF, and JTO Spot trading bots aim to buy low and sell high as the crypto’s price moves in the given price range during the day. Approximately half of the crypto bot’s funds are held in BOME, WIF, or JTO, while the remaining is in USDC.
Temporary Dip or End of Memecoin Season?
All three tokens have succumbed to a double-digit market correction this Friday. To illustrate, Book Of Meme (BOME) plummeted by 15.2% over the past 24 hours to trade at $0.01336 as of press time. BOME’s quick eruption to its current all-time high (ATH) happened in two days, soaring to $0.02689 on March 16, 2024, and has since retraced 50% from this price milestone.
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Book Of Meme could face a backtrack after its remarkable 22,820% price growth since the all-time low of $0.00005848, since the coin was first made trackable by cryptocurrency price aggregators on March 14. Today’s 15% plunge for BOME suggests that the memecoin has entered crypto market correction, which could see BOME moving towards the confluent support cluster at $0.012.
WIF is in an identical position, with a 15% drop over the past 24 hours, sliding to $3.22. The pink-hat-rocking Solana dog surged to an all-time high of $4.83 on March 31, 2024, but has since retraced 31.3% from the milestone.
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Dogwifhat and Book Of Meme are not facing extinction in the crypto markets, as the rising interest produced $16M and $6M in pending daily bids, slightly outsourcing the pending buys for both tokens, according to on-chain data by CoinGlass.
On the Flipside
- These trading bot services won’t work for Binance customers residing in Canada, Cuba, Iran, Netherlands, North Korea, Syria, the United States, and occupied Ukrainian territories.
Why This Matters
Expanding its service range, Binance answers the rising demand for advanced meme currency trading. March 2024 recorded the most successful bull cycle in the memecoin department.
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