Social media star Hasbulla has just rolled out his new memecoin, $BULLA, creating buzz and some caution in the crypto community.
At an audacious $163 million valuation, Hasbulla himself owns around 96% of the supply, giving him pretty much all the control over the token that you can have while still being legal.
This is the second time Hasbulla has tried his hand at a crypto play, and his first one saw a ridiculous rise and an equally ridiculous fall — going as high as a market cap of $300 million before going back down to about $50 million five days later.
The Hasbulla Playbook: Familiar Strategies and Market Maneuvers
$BULLA seems to be following a well-worn playbook of Hasbulla’s previous launches. Each has unfurled with a consistent marketing narrative built around the personal brand of the 20-year-old dwarf actor and around a rather ingenious form of strategic teasing. Beside the clear signaling from #BULLA merch, we often see, in our feeds, multiple images of Hasbulla wearing Binance gear or alongside #BULLA team members. The close collaboration between the team and the fanbase, in both image and message, is quite something to behold.
Yet, even if a listing comes, insiders warn that there are often mechanisms put in place to limit profits for those without privileged information. This has certainly added to the skepticism within the community, as many retail investors feel they are at a distinct disadvantage when compared to early insiders and team members. The previous token associated with Hasbulla serves as a potent reminder of the volatility and the very real risks involved in these launches.
Notwithstanding the history of caution, the buzz surrounding $BULLA is nothing short of intense. The token is tied up with the highly enviable persona of Hasbulla and, as you might imagine, a lot of people are loyal to and very much on board with that half-pint MMA fighter’s over-the-top antics. We say again: Will all this energy lead anywhere up or down, or is this just in trades for lunch? We also wonder, will it lead somewhere long-term or just shoot up and down in a few short trading days?
Whale Activity Signals Early Moves on $BULLA
Recent activity from what may be considered a “whale” investor is emerging on the scene, and early data is coming to light. According to the blockchain analytics platform Lookonchain, a wallet address labeled “0xfa64” recently became active after a three-month slumber. The still-anonymous wallet moved 340 Binance Coin, worth around $218,000, from exchanges and acquired 1.19 million $BULLA tokens.
This transaction suggests that an investor with deep pockets is very committed, quite possibly signaling that they have the token and are very confident in its short-term prospects or privy to some big upcoming changes. This kind of situation can also serve to grease the wheels of market momentum, with the big buy—in this case, by the Grayscale Bitcoin Trust—encouraging smaller trader types to pile in and leaving us with a nice upturn in the price.
Yet it does raise questions over market manipulation or the chance of working in concert to pump the token before a possible exit. With Hasbulla’s previous experience in the world of memecoins, and the team’s obvious marketing chops, investors should be very cautious and assess thoroughly the risks involved.
What Lies Ahead for $BULLA and Its Investors?
The celebrity-driven memecoin saga has introduced chapters featuring powerful figures, and now we can add $BULLA to that list. Hasbulla’s copious holdings in this token may give some the impression that he’s all-in on what’s being marketed as the world’s first digital currency for the arts. It’s hard to get past the reality that viewing $BULLA as a serious contender for anything more than a cash grab relies almost entirely on the personality of the person behind it.
Hasbulla’s past offers of tokens serve as a warning: they shot up unbelievably fast and then crashed unbelievably fast, leaving behind a lot of sad investors. This happens with memecoins in general and, as you might guess, has happened with some Hasbulla tokens in particular. What makes their price movements so unpredictable and extreme is that insiders hold a lot of the supply.
Vigilance is of utmost importance for potential investors. Watching the movement of tokens, the schedules for unlocking tokens, and any official announcements can give you a good idea of where the market is heading. And while all that is going on, the $BULLA team needs to be as transparent as possible and remain under the watchful eye of regulators, if we are to have any faith in the token’s long-term legitimacy.
To sum up, the launch of $BULLA capitalizes on the combination of powerful celebrity influence and crypto speculation. The token’s value and momentum may be what is grabbing headlines, but Hasbulla’s earlier business venture teaches that it is necessary to tread carefully in this new digital economy. In the next few weeks, we will see the $BULLA token’s true colors, whether it will fly off into the sunset or if it will be going the way of Hasbulla’s earlier effort—one that in retrospect makes us wonder if maybe a little more measured decision-making and risk management wouldn’t have been such a bad thing.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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