Is Hasbulla’s BULLA Token Another Pump N Dump?
The post Is Hasbulla’s BULLA Token Another Pump N Dump? appeared on BitcoinEthereumNews.com. A new market trend has spotlighted the Hasbulla BULLA token, which has quickly raised over $12.5 million from the industry. Despite the growing hype, many market participants are questioning whether or not it is just another pump-and-dump scheme. Notably, past projects linked to Hasbulla have failed, raising doubts about this new token’s future. Past Scams Tied to Hasbullah Resurfaces With BULLA Token The token in question is tied to Hasbulla Magomedov, an internet personality whose track record in Web3 is already a troubling reality. In 2021, he launched NFTs with vague perks and plans for a metaverse that never materialized. In early 2024, he introduced the Barsik token, which quickly became a pump-and-dump. It is worth noting that over 60% of the supply was scooped up by insiders and bots at launch. Blockchain analysis showed wallets linked to the team selling off large amounts while public promotions continued. The same pattern is unfolding with the BULLA token. Analysts say many presale wallets are new, unfunded before this project, and linked to past Hasbulla-related contracts. There is no Whitepaper, audit, or explanation of how the funds will be used. Promotions rely entirely on Hasbulla’s fame and meme content. Meanwhile, Blockchain investigator ZachXBT has recently warned against a new BNB token sale tied to BULLA. Notably, as the influencer posted about the BULLA token presale on Monday, the project have already received over $12.5 million in less than 24 hours. This adoption is not unique and generally common among celebrities. Celebrity Tokens and the Caution to Note Just as concerns around the BULLA token grow, Argentina’s President Javier Milei has shut down the task force investigating his role in promoting the failed Libra token. The scandal saw insiders walk away with funds and over $4 billion in market cap was wiped out. …
The post Is Hasbulla’s BULLA Token Another Pump N Dump? appeared on BitcoinEthereumNews.com.
A new market trend has spotlighted the Hasbulla BULLA token, which has quickly raised over $12.5 million from the industry. Despite the growing hype, many market participants are questioning whether or not it is just another pump-and-dump scheme. Notably, past projects linked to Hasbulla have failed, raising doubts about this new token’s future. Past Scams Tied to Hasbullah Resurfaces With BULLA Token The token in question is tied to Hasbulla Magomedov, an internet personality whose track record in Web3 is already a troubling reality. In 2021, he launched NFTs with vague perks and plans for a metaverse that never materialized. In early 2024, he introduced the Barsik token, which quickly became a pump-and-dump. It is worth noting that over 60% of the supply was scooped up by insiders and bots at launch. Blockchain analysis showed wallets linked to the team selling off large amounts while public promotions continued. The same pattern is unfolding with the BULLA token. Analysts say many presale wallets are new, unfunded before this project, and linked to past Hasbulla-related contracts. There is no Whitepaper, audit, or explanation of how the funds will be used. Promotions rely entirely on Hasbulla’s fame and meme content. Meanwhile, Blockchain investigator ZachXBT has recently warned against a new BNB token sale tied to BULLA. Notably, as the influencer posted about the BULLA token presale on Monday, the project have already received over $12.5 million in less than 24 hours. This adoption is not unique and generally common among celebrities. Celebrity Tokens and the Caution to Note Just as concerns around the BULLA token grow, Argentina’s President Javier Milei has shut down the task force investigating his role in promoting the failed Libra token. The scandal saw insiders walk away with funds and over $4 billion in market cap was wiped out. …
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