Bobaoppa

Solana

Boba Oppa (BOBAOPPA), a Solana-based memecoin created by Taiwanese music celebrity and blockchain personality Machi Big Brother (aka Jeffrey Huang), has taken tokenholders on a rollercoaster ride after a $40 million presale.
According to GeckoTerminal data on April 2, the Boba Oppa memecoin <a href="https://www.geckoterminal.com/solana/pools/DcfLjNC4gdQNwVNkQ1guHiiuTkDxwvmWV74VsT6yTF75" target="_blank" rel="noopener nofollow">opened</a> at a high of 0.001474 at launch on March 30 before plunging 74% to a low of 0.0003854 shortly after. At the time of publication,&nbsp;Boba Oppa has somewhat recovered at a price of $0.0007194. On March 28, investors sent over 200,000 SOL (<a href="https://cointelegraph.com/solana-price-index">SOL</a>) to the Boba Oppa memecoin address based on <a href="https://cointelegraph.com/magazine/kucoin-10m-airdrop-machi-big-brother-37m-solana-memecoin-asia-express/">one single tweet</a>, raising over $40 million for the venture. The token has since grown to a market cap of $73 million, but not all participants are happy.&nbsp;
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 <img src="https://s3.cointelegraph.com/uploads/2024-04/14e35e67-9bfb-4507-ad8f-57b30ea8fae5.png" alt="" title="">
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 Source: <a href="https://twitter.com/machibigbrother/status/1775114343014957343" target="_blank" rel="noopener nofollow">Machi Big Brother</a>
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</figure>
“Never buying a presale ever again," one user <a href="https://twitter.com/ProTheDoge/status/1774887807451881481" target="_blank" rel="noopener nofollow">wrote</a> on X, adding: "My $10K is now worth $129.00, WTF man.” Meanwhile, crypto influencer Borovik.sol, too, chimed in on the investor panic: "What’s the point of presales if everyone sells after 5 minutes?” he <a href="https://twitter.com/3orovik/status/1773978228991922582" target="_blank" rel="noopener nofollow">asked</a>.&nbsp;
But the biggest insight into the wild trading action came from Machi Big Brother himself, who explained that unlike a traditional memecoin pump-and-dump scheme, Boba Oppa is instead a “dump-and-pump” token. “We are not the same. Let that sink in,” Huang <a href="https://twitter.com/machibigbrother/status/1775078844313264385" target="_blank" rel="noopener nofollow">wrote</a>. “Can I make back the $29977 I lost through the passive income?” asked one user regarding the Boba Oppa price variance. “Only if you pray hard enough,” Huang <a href="https://twitter.com/machibigbrother/status/1775125120035774942" target="_blank" rel="noopener nofollow">replied</a>.&nbsp;
Inspired by the recent surge of canine-themed Solana memecoins, Huang created the Boba Oppa token, too, with a backstory. According to the project's official <a href="https://bobaoppa.xyz/" target="_blank" rel="noopener nofollow">website</a>:&nbsp;
<blockquote data-ct-non-breakable="true">
 “Once upon a time, Boba Oppa, son of Machi Big Brother, set out on a journey for generational wealth and to lose his virginity. Through his trials and tribulations he created $BOBAOPPA, the memecoin that harnesses the power of DeFi.”
</blockquote>
Solana memecoins have been on a wild run, with <a href="https://twitter.com/zachxbt/status/1770138079044485357" target="_blank" rel="noopener nofollow">$149.2 million raised</a> from 33 presales within the past month alone. Anatoly Yakovenko, co-founder of Solana, has since <a href="https://twitter.com/aeyakovenko/status/1770086226919575677" target="_blank" rel="noopener nofollow">warned</a> investors to “stop doing this” amid the ongoing craze.
Related:&nbsp;<a href="https://cointelegraph.com/news/solana-struggles-to-recapture-200-but-dapp-and-derivatives-markets-remain-bullish">Solana struggles to recapture $200, but DApp and derivatives markets remain bullish</a>

Taiwanese music celebrity’s Solana memecoin sees wild price action after $40M presale

Cointelegraph

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