Following a $40 million presale, Taiwanese pop icon and blockchain sensation Machi Big Brother (aka Jeffrey Huang) developed the Solana memecoin Bobaoppa, which has taken tokenholders on a wild ride.
The Bobaoppa memecoin saw a 74% decline to a low of 0.0003854 shortly after its introduction on March 30, according to GeckoTerminal statistics as of April 2. The Bobaoppa token has partly rebounded as of the time of publication, trading for $0.0007194. Based on a single tweet, investors contributed more than 200,000 SOL to the Bobaoppa memecoin account on March 28, raising more over $40 million for the project. Since then, the token’s market value has increased to $73 million, but not everyone who has invested is delighted.
“Never buying a presale ever again,” one user wrote 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 asked.
However, Machi Big Brother himself provided the most insightful explanation of the frenzied trading activity when he clarified that Bobaoppa is a “dump-and-pump” token as opposed to a typical memecoin pump-and-dump scheme. “We are not equivalent. “Permit that to sink in,” wrote Huang. A user inquired about the Bobaoppa pricing variance, asking if they could recover the $29977 they had lost due to passive income. Huang answered, “Only if you pray hard enough.”
Huang also developed the Bobaoppa token, which has a storyline, after being influenced by the recent boom of memecoins with dog themes, such as Solana. As stated on the official project website:
“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.”
Memecoins from Solana have been soaring, raising $149.2 million from 33 presales in only the last month. Co-founder of Solana Anatoly Yakovenko has since advised investors to “stop doing this” in light of the current frenzy.