The price of Bobo Coin (BOBO) is up more than 200% in the last 24 hours, with the jump to $0.000000050417 representing a massive 3000% growth since it first listed on Uniswap a few months ago.
This makes BOBO the latest in a growing list of meme tokens that have comfortably outperformed the market at times this year, though it remains about 23% lower than the all-time high of $0.000000065803, recorded in early May.
This was when the 2023 meme token craze was at its peak, with BOBO being one of many struggling to maintain its former highs, even though it has surged today.
But while meme tokens like BOBO seem to have already enjoyed their biggest rallies, some newer meme tokens have their best days ahead of them, including Wall Street Memes (WSM), which has raised more than $11.5 million in the presale.
Bobo Coin Rises 3,000% on Dextools, But All Attention Is on Wall Street Memes as the Next Crypto to Explode
Bobo is likely up in the last 24 hours, largely due to a mini-rebound for meme tokens in general, with Pepe (PEPE) also up 7% in the last hour and 73% in the last 14 days.
As such, some market watchers believe that BOBO is, in effect, riding the wave of renewed interest in meme tokens, with a possible interpretation of its outperformance from PEPE being that it has much lower liquidity and is thus easier to pump.
This market-wide recovery for meme tokens has worked in favor of BOBO, with the token being one of the most trending cryptocurrencies in the market today.
Of course, as with most other new meme tokens, BOBO has essentially nothing to offer in terms of fundamentals, meaning it’s quite vulnerable to a downside correction, despite its delights today.
More cautious traders may therefore prefer to look at something that has more certainty of going big in the future, especially when BOBO’s 200% spike today would imply that it should correct very soon.
The point is that it is normally very difficult to predict which new meme token will rise to the top as most of them are indistinguishable from each other.
There is one exception to this general rule, however, which is that presale can often give investors advance warning about which newer meme tokens are likely to go big.
This is because, if a meme token has raised a lot of money in a presale, it is usually a good sign that the market is interested in it and it will rise significantly once it appears on the exchange.
A good example of such a coin is Wall Street Memes (WSM), a new meme token that has raised more than $11.5 million in the presale that started about a month ago.
Associated with the meme share movement that sparked the infamous 2021 GameStop and AMC rallies, WSM’s impressive pre-sales total (so far) indicates that it has already been successful in attracting a strong community of followers and holders.
Indeed, the official Twitter account now has just over 255,000 followerswhich is definitely a step forward Bobo Coin is more modest 6,200+.
It has been able to gather such a following because it has real ties to the meme stocks movement (for example, its Twitter account has been active since 2019), while meme tokens like Bobo Coin have more or less sprung up out of nowhere.
This will serve him much better going forward, and with the token not yet listed on exchanges, there is no doubt that the best rallies are coming.
Investors can participate in the presale by going to the official Wall Street Memes website and linking their crypto wallet, with WSM currently priced at $0.0307.
This will rise to $0.0337 by the time the sale reaches its 30th and final stage, although WSM’s already thriving community likely means it will rise much higher once it gets some listings.
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Disclaimer: Crypto is a high risk asset class. This article is for informational purposes only and does not constitute investment advice. You can lose all your capital.