A music celebrity from Taiwan creates his own memecoin. Boba Oppa drops by 75% at launch!

The memecoin craze makes more and more investors interested in them. A music celebrity from Taiwan also decided to join the memecoin race and released his own memecoin. Although the pre-sale of Bob Opp, which reached the ceiling of USD 40 million, turned out to be quite a success, the instability of the price definitely enraged many investors.

Boba Oppa, i.e. the controversial memecoin based on Solana

Memecoins are a phenomenon. Their popularity has been breaking records in recent weeks, which is why many members of the cryptocurrency community simply see it as a great opportunity. One of them is Machi Big Brother (Jeffrey Huang), a music celebrity from Taiwan who is also a Web3 promoter. The influencer decided to create the Boba Opp memecoin (BOBAOPPA) based on the Solana blockchain.

According to data from GeckoTerminal on April 2, Bob Opp's memecoin opened at $0.001474 at launch on April 30. Shortly after opening, however, it fell by as much as 74% to USD 0.0003854. At the time of writing this article, the price has rebounded and is steadily increasing. It is currently at USD 0.0008526. It is also worth noting that its current capitalization is over USD 87 million.

Boba Oppa is supposed to be a Dump-and-Pump scheme? An enigmatic statement from a celebrity

Bob Opp's course is a real rollercoaster, which is why many investors expressed very critical opinions about the entire project on the X website. There were a lot of comments, such as “My USD 10,000 is now worth USD 129.00”. The creator of memecoin also commented on the whole situation, pointing out that Boba Oppa is the opposite of the traditional pump-and-dump scheme in memecoins. Its token is “dump-and-pump” and although it sounds extremely absurd, the BOBAOPPA price is constantly growing.

Borovik.sol, a well-known influencer in the cryptocurrency community, also commented on the investors' panic in the first moments after the token launch, writing:

What's the point of a pre-release if everyone sells after 5 minutes?

Solana's memecoins have seen wild growth with $149.2 million raised and 33 launches in the last month alone. Although the boom attracts investors, Solana's co-founder Anatoly Yakovenko warns against investing during the current frenzy.