Bobaoppa, a Solana memecoin conceptualized by Taiwanese music celebrity and blockchain personality Machi Big Brother (also known as Jeffrey Huang), has undergone significant price fluctuations after a presale that raised $40 million.

Based on data from GeckoTerminal on April 2, the Bobaoppa memecoin started trading at a high of 0.001474 at its launch on March 30 but quickly dropped by 74% to a low of 0.0003854. As of the present time, the Bobaoppa token has somewhat rebounded, currently priced at $0.0007194. Investors showed substantial interest in the coin, with over 200,000 SOL sent to the Bobaoppa memecoin address following a single tweet, resulting in over $40 million in funding. The token's market cap has grown to $73 million, although not all participants are satisfied.

Users have expressed disappointment, with one individual on social media proclaiming their intent to refrain from participating in presales in the future after losing a significant portion of their investment. Additionally, another cryptocurrency influencer questioned the purpose of presales if investors sell off their holdings within minutes.

Interestingly, Machi Big Brother emphasized that Bobaoppa operates differently from the typical pump-and-dump memecoin schemes, referring to it as a "dump-and-pump" token. Despite the fluctuating price, there seems to be intrigue surrounding the token's trading patterns and potential for passive income.

Inspired by the popularity of Solana memecoins with canine themes, Huang introduced the Bobaoppa token, which comes with a unique backstory featured on the project's official website.

Solana memecoins have been garnering significant attention, with a total of $149.2 million raised through 33 presales in the last month. Anatoly Yakovenko, Solana's co-founder, has cautioned investors against participating in this trend amid the current craze.