Hasbulla Launches a New Token, BULLA, Raising Over $12.5 Million Despite Past Project Failures

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

A new market trend has seen the Hasbulla BULLA token quickly raise over $12.5 million from the industry. However, many are questioning if it is just another pump-and-dump.

Past projects linked to Hasbulla have failed, raising doubts about this new token.

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. Back 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 revealed that wallets linked to the team were selling off large amounts of the token while public promotions continued.

The same pattern is unfolding with the BULLA token. Analysts note that many presale wallets appear 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 being sold with claims of being part of BULLA.

However, as the influencer posted about the BULLA token presale on Monday, the project has already seen impressive adoption, having raised over $12.5 million in less than 24 hours.

Nevertheless, such rapid adoption is not entirely surprising and generally common among celebrities, especially in the crypto sphere. A large portion of the token’s presale sold out within the first 24 hours, showcasing strong initial interest.

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.

It is essential to clarify that a government decree claimed the unit had completed its job. However, critics believe the move is an attempt to quickly sweep the issue under the rug.

Still, Blockchain data showed massive cashouts during Libra’s brief run. The case has fueled growing suspicion around political figures and influencers promoting unregulated products in the market.

Moreover, the BULLA token arrives at a time when trust in memecoins is already fragile. Recently, a fake Microsoft token experienced a surge to a market cap of $80 million before ultimately crashing.

According to the update, promoters falsely claimed the token was linked to Microsoft AI, and no connection existed. Wallets associated with the launch were caught dumping tokens after luring in unsuspecting buyers with the deception.

Similarly, a new Eric Trump meme coin experienced a rapid 8,500% spike within a 24-hour period before collapsing. Trump himself never confirmed any involvement in the token. The token’s rally and subsequent drawdown closely mirror other instances where coins use a celebrity’s name without their consent, ultimately leading to rapid gains for a select few and losses for those who invest later.