While most of the meme-coins especially the famous dog-themed coins like Shiba Inu (SHIB) and Dogecoin (DOGE) are sailing through a rough sea, Bobatama (BOBA) coin seem to be stealing the shore with its rise over the last seven days.
In the last seven days, BOBA has risen by 168.6%, although it started this week on a pullback dropping by about 15% today. On the other hand, Shiba Inu has dropped by 4.29% over the last seven days and today it is still in the decline. Dogecoin has dropped by 3.69% over the last week.
In this article, we are going to examine the forces behind the bullish Bobatama (BOBA) price over the last week; a period when a majority of popular coins like Bitcoin and Ethereum hardly made any considerable gains.
What Is Bobatama (BOBA)?
Before we look into the reasons why Bobatama is rising, it’s essential to explain what it is.
Launched on the Ethereum network, Bobatama is a meme-based token based on the Star Wars character, Boba Fett. It is denoted as BOBA.
The utility behind BOBATAMA is BOBAMASK, the first-ever Ethereum Virtual Machine (EVM) compatible multi-chain wallet built using BOBATAMA’s Force Ghost technology.
Why Is BOBA Price Rallying?
One of the reasons why BOBA price is soaring and gaining traction is because it was featured on the CoinMarketCap trending section; something that drew the attention of whales with one of them buying over BOBA tokens worth 38ETH in a single transaction.
https://twitter.com/Bobatama/status/1502390552934985734?s=20&t=N7ALVABXn4npUt0SFMDp3Q
Since BOBA features a growing community as the primary driver for its bullish momentum, we expect more significant price gains if the team goes on to deliver on their promise of Ghost Force technology and Bobamask wallet.
Ghost Force technology will enable anonymous transactions on the blockchain while Bobamask wallet will be both Mobile and Web3 compatible for crypto users, it will also integrate NFTs into their wallet like MetaMask.
According to BOBA holders’ distribution, the top holder is an address that has over 39% of its supply. The outlook of BOBA will be bullish unless the address decides to dumps the token any time soon. However, with the great vision and the growing community, Bobatama will soon shoot to the moon.