Taiwanese Singer Collects $36 Million Worth of Solana, Equivalent to 195,000 Tokens, to Fund His New Memecoin
Taiwanese singer Jeffrey Huang has made waves in the cryptocurrency world by reportedly raising approximately 195,000 SOL (Solana) for his Memecoin Bobaoppa. However, Huang’s previous involvement in multiple Initial Coin Offerings (ICOs) in 2022, which resulted in failed pump-and-dump NFT tokens, has raised doubts among the crypto community regarding his recent actions.
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Fundraising for Bobaoppa Token
Recent data from Solscan shows that Huang’s memecoin project has successfully raised an impressive 195,000 SOL, equivalent to around $36 million. This significant achievement in fundraising highlights Huang’s growing influence and the increasing popularity of memecoins in the digital asset market.
According to Solscan, as of 10:00 UTC+8, Taiwanese singer Jeffrey Huang has raised approximately 195,000 SOL for his Memecoin Bobaoppa, which is valued at around $36 million. In 2022, ZachXBT exposed Huang’s involvement in numerous ICOs, such as Mithril, Formosa, Machi X, Cream Finance…
— Wu Blockchain (@WuBlockchain)
March 28, 2024
Huang initially gained fame as a founding member of the pop/rap band called L.A. Boyz in the 90s. He later went on to establish the hip-hop group “Machi” in 2003, as well as the record label “MACHI Entertainment.”
Huang entered the crypto space in 2017, starting with the launch of Mithril (MITH), which marked the beginning of a series of crypto projects. Despite facing setbacks, Huang’s involvement in the Bored Ape Yacht Club NFTs further solidifies his presence in the crypto community.
Huang’s Pump and Dump Activities
The news of Huang’s successful fundraising comes at a time when his past involvement in various Initial Coin Offerings (ICOs) has come to light. Notably, Huang has been linked to several ICOs, including Mithril, Formosa, Machi X, Cream Finance, and Mith Cash, as revealed by ZachXBT in 2022.
Adding to the skepticism is Huang’s association with the Machi group, which reportedly oversaw the operation of “over ten failed pump and dump tokens and NFT projects” over a span of four years.
BOBAOPPA Price Analysis
Huang’s venture 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 notable memecoin projects, showcasing the growing influence of memecoins in the crypto market.
Currently, the price of BOBAOPPA/SOL stands at $0.00003291, representing a 0.7% increase in the past 24 hours. During this period, its value fluctuated between a high of $0.00004801 and a low of $0.000001067.