Event:
Among the general chaos in the crypto market, the $BAOBAO memecoin showed dramatic growth — 109% overnight, and its capitalization reached $4.2 million. The overnight growth raised the interest of short-term profit-seeking investors and traders.
Pump review:
The main driver of $BAOBAO's growth is the activity of the community. Unlike most memecoins that grow on influencer or marketing budget-driven basis, this token is supported by grassroots players. They shill it out openly on social media, create memes and maintain the momentum. Relevance also helped — on the basis of growing interest in memecoins, $BAOBAO was at the right place at the right moment.
$BAOBAO Team:
The project team is not segregated from other memecoins. There is no clear development roadmap, groundbreaking technologies or sizeable partnerships. So far, the popularity of $BAOBAO is based on sheer hype and community liking, and therefore it's a typical case of pump-and-dump trends.
Future analytics:
In the near future, $BAOBAO will most likely face one of two scenarios:
Long development - if hype keeps piling up from the community, the token may find a position among the top memecoins.
Quick dump - when the hype fizzles out, investors will start selling, hence a quick price fall.
Conclusion:
$BAOBAO is a mid-term memecoin which originated a classic case of a token that took flight because of the community. But we'll believe it when we see it - without fundamentals, we don't know what its future will be. Be careful, investors: great potential gains are accompanied by equally great risks. Further information regarding the token can be discovered within its contract - 4bXCaDUciWA5Qj1zmcZ9ryJsoqv4rahKD4r8zYYsbonk
We continue to monitor developments in $BAOBAO.
This article isn't financial advice!
