The frenzy surrounding Solana memecoins continues unabated amidst the turbulent crypto market conditions. One of the latest sensations, Book of Meme (BOME), emerged just three days ago from a presale initiated by meme artist and NFT creator Darkfarms, swiftly catapulting to a market capitalization exceeding $600 million.

BOME, hosted on the decentralized storage platform Arweave, aims to revolutionize web3 culture by blending memes, decentralized storage solutions, and speculative coin trading and gaming. The project features an array of unreleased memes, a unique 'meme enhancer' tool, and potential plans for a Bitcoin Ordinals collection. During the 24-hour presale open to all, over 10,000 SOL ($1.8 million) was raised, with half allocated as liquidity for the token, resulting in presale participants witnessing over a 100x increase in their initial investments.

Among the notable holders, sundayfunday.sol stands out for contributing 420.69 SOL ($75,000) during the presale and securing approximately 2% of the BOME supply. Notably, they have refrained from selling any tokens to date, with their holdings valued at over $11 million at present.

The success of Darkfarms' venture has not only propelled BOME but also elevated the value of their existing NFTs like Smowls, a collection of stylized Pepes, which saw its floor price surge from 0.05 ETH ($200) to 0.6 ETH ($2,280) prior to the BOME launch.

In parallel with these developments, the broader crypto market has witnessed a retracement following Bitcoin's recent record-breaking surge above $72,000. Bitcoin is currently trading at $67,704 after a 4.7% decline today, erasing its gains for the week.

Ethereum has dipped below $4,000 to $3,667 with a 5.4% drop in the last 24 hours. Despite these fluctuations, both assets have seen significant growth over the past month.

Solana stands out as a standout performer with an impressive 800% increase over the past year and a further 7.9% spike today, reaching $180 per token. Notable gainers include Jupiter’s JUP token and Pyth Network while select memecoins like Dogwifhat’s WIF have experienced notable losses post-recent milestones. Amidst these fluctuations and developments in both memecoins and established cryptocurrencies like Solana and Ethereum, investors are navigating a dynamic and evolving market landscape.