The launch of Bobaoppa (CRYPTO:BOBAOPPA), a Solana-based memecoin created by Taiwanese music star and blockchain enthusiast Jeffrey Huang (also known as Machi Big Brother), has drawn mixed reactions after its $40 million presale.

The token experienced dramatic fluctuations, opening at $0.001474 on March 30, only to plummet by 74% soon after.

Despite recovering to $0.0007194, the volatile price movements have left some investors disillusioned.

The presale, which attracted over 200,000 SOL following a single promotional tweet by the creators, increased the token's market cap to $73 million, showcasing a high level of initial interest.

Discontent has been vocal among investors, with one noting their $10,000 investment dwindled to $129, expressing frustration at the presale process.