Not Just Another Solana-Based Memecoin
While I was on the hunt yesterday, I managed to stumble across a relatively new memecoin. Yes, another Solana memecoin. However, even at first glance, I was able to discern that there was something uniquely special about BOZO. According to DEX SCREENER, the BOZO pair was launched 7 days ago and experienced the typical memecoin effect, which is an initial pump, followed by a hefty dump. However, it didn’t end there for BOZO.
Not only did BOZO manage to recover, but it has since gone on to rally as much as 250% above its initial surge. Anyone familiar with the memecoin market will attest to how unique this price action is, and in most cases, is often an indication of future greatness. The graph pictured below displays how BOZO has risen from its lows, and has managed to surpass its local top. In most (memecoin) instances, the opening highs are never revisited.
I entered my initial position at a $11 million market cap, and am looking to increase that position, depending on the opportunities the market can throw my way. Further examination into BOZO revealed that @bozocoinsol is an endeavor by the Bozo Collective. As I began to dig a little deeper, I discovered that this project (and community) has been in the making for some time and that much thought and planning has gone into this memecoin.
This is not just another Solana memecoin packaged with an X account and a random website. BOZO NFTs have been trading since at least November, and range between 4 SOL and 7 SOL on Tensor. Bozo Council NFTs are also available on Magic Eden, where I spotted an NFT going for as much as 100 SOL! It’s abundantly clear, BOZO is not another flash in the pan, but is backed by an incredibly committed community.
This is evident when observing the interaction on the official X accounts, @BozoCollective and @bozocoinsol. Hundreds and even thousands of interactions per tweet is an impressive X metric. Not only that but Bozo Collective has also launched Bozo Swap, where community members can trade their unwanted memecoins, and other SOL-based tokens, for BOZO. Bozo Swap also sports a point system, where NFT holders can gain multipliers.
These points are used to calculate the BOZO airdrop allocation, as well as possible future rewards. All in all, BOZO strikes me as a rather unique memecoin project, and one that is raising the standards, when it comes to memecoins. Bozo Collective is an entirely different caliber to what exists in the memecoin world, and I wouldn’t be surprised to see this project perform phenomenally well throughout the bull market.
Final Thoughts
BOZO brings more than mere speculation to the memecoin market, with actual utility, though limited at this stage, there is the promise of future developments within Bozo Collective. Just yesterday, the official Bozo Collective published this tweet, with the promise that there is more to come for BOZO and Bozo Collective. It’s one I am keeping a close eye on. Compared to AnaloS and Yotoshi, BOZO is light years ahead.
When you consider that both of the abovementioned projects managed to reach hundreds of millions in market cap valuations, it’s difficult to envision BOZO remaining at $14 million. Anyway, that’s it for this one. Remember, this is by no means investment advice. The memecoin market is incredibly volatile, and one should always conduct extensive research before any investment decision. All the best, see you next time!
Disclaimer
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This article was first published on Sapphire Crypto.