Despite a largely successful sale, not all participants are happy about the volatile price action.
Bobaoppa, a Solana (SOL) 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 Bobaoppa memecoin opened 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, the Bobaoppa token has somewhat recovered with a price of $0.0007194. On March 28, investors sent over 200,000 SOL to the Bobaoppa memecoin address based on one single tweet, 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.
“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.
