Bobaoppa, a memecoin on the Solana (SOL) blockchain, has garnered attention and fluctuations in value after a successful $40 million presale. The token opened at a high of 0.001474 on March 30 but quickly dropped by 74% to a low of 0.0003854 shortly after. As of now, the price of the Bobaoppa token has somewhat recovered to $0.0007194. Prior to its launch, investors contributed over 200,000 SOL to the Bobaoppa memecoin address based on a single tweet, raising over $40 million. The token now holds a market cap of $73 million, but not all participants are satisfied.
One investor expressed disappointment on social media, stating, “Never buying a presale ever again. My $10K is now worth $129.00, WTF man.” Another crypto influencer questioned the purpose of presales if everyone quickly sells their tokens. However, the most intriguing insight came from Machi Big Brother himself, the creator of Bobaoppa, who explained that the token operates differently from traditional memecoins. He referred to it as a “dump-and-pump” token, distinguishing it from the typical pump-and-dump schemes. In response to a user’s query about recouping losses through passive income, Huang replied, “Only if you pray hard enough.”
Inspired by the recent popularity of Solana memecoins featuring canine themes, Huang created Bobaoppa with its own unique backstory. The Solana blockchain has witnessed a surge in memecoin activity, with a total of $149.2 million raised from 33 presales in the past month alone. Anatoly Yakovenko, co-founder of Solana, has advised investors to exercise caution amidst the ongoing frenzy.