Taiwanese singer Jeffrey Huang has made headlines in the cryptocurrency world as he reportedly raised around 195,000 SOL (Solana) for his Memecoin Bobaoppa. However, Huang’s earlier involvement in multiple Initial Coin Offerings (ICOs) in 2022, which resulted in failed pump-and-dump NFT tokens, has sparked skepticism within the crypto community regarding his recent actions.
Fundraise For Bobaoppa Token
Recent data from Solscan reveals that Huang’s memecoin project has successfully raised a staggering 195,000 SOL, equivalent to approximately $36 million. This significant fundraising achievement highlights Huang’s growing influence and the rising popularity of memecoins in the digital asset market.
Huang initially found fame as a founding member of the pop/rap band named L.A. Boyz in the 90s. He later went on to found the hip-hop group “Machi” in 2003, as well as the record label “MACHI Entertainment”.
Huang entered the crypto space in 2017, Huang’s journey began with the launch of Mithril (MITH), marking the beginning of a series of crypto projects. Despite facing setbacks, Huang’s involvement in the Bored Ape Yacht Club NFTs further cements his presence in the crypto community.
Huangs: Pump and Dump
The news of Huang’s fundraising success comes amidst revelations about his past involvement in various Initial Coin Offerings (ICOs). Notably, Huang has been associated with multiple ICOs, including Mithril, Formosa, Machi X, Cream Finance, and Mith Cash, as revealed by ZachXBT in 2022.
Adding to the skepticism is Huang’s affiliation with the Machi group, which reportedly oversaw the operation of “over ten failed pump and dump tokens and NFT projects” over four years.
BOBAOPPA Price Analysis
Huang’s foray into the world of memecoins has sparked discussions within the crypto community, with many curious about the potential impact of Bobaoppa on the broader market.
With Huang’s successful fundraising, Memecoin Bobaoppa joins the ranks of noteworthy memecoin projects, reflecting the rising influence of memecoins in the crypto market.
Currently, the price of BOBAOPPA/SOL stands at $0.00003291, reflecting a 0.7% increase over the past 24 hours. During this period, its value ranged between a high of $0.00004801 and a low of $0.000001067.
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It’s impressive that Jeffrey Huang raised 195,000 SOL for Bobaoppa, but it’s crucial to evaluate the long-term sustainability of this memecoin.”
“Given Huang’s past with failed ICOs, it’s understandable why some in the crypto community are skeptical about his new project. Transparency is key.”
“The rapid fundraising for Bobaoppa reflects the growing interest in memecoins, but investors should conduct thorough research before jumping in.”
“Huang’s influence in the crypto space is evident, yet the history of pump-and-dump schemes raises valid concerns for potential investors.”
“The price volatility of Bobaoppa indicates the typical risks associated with memecoins. Caution and careful monitoring are advised.”
“While the fundraising success is noteworthy, I hope Huang applies the lessons learned from previous projects to ensure Bobaoppa’s credibility and longevity.