Hasbulla Launches BULLA Token on BNB Chain — Analysts Warn of Risks

Internet celebrity Hasbulla announces the launch of his own token, BULLA, on the BNB Chain.

2 min.

rating +25
subscribers 110

In the first six hours, the project attracted over $7 million. However, despite the impressive sum, analysts believe a significant portion of the funds may have been generated internally by the project to artificially boost interest.

Growing Suspicions

An investigation by a blockchain analyst dethective revealed that many transactions came from newly created wallets, funded via exchanges and quickly transferred to addresses linked to Hasbulla. This pattern is commonly used to simulate demand — creating an illusion of mass support and luring in inexperienced investors.

Experts note that in such schemes, only a few manage to secure profits, while the majority of buyers face a sharp drop in price shortly after the token hits the market.

Connection to USD1 and Past Schemes

Part of the funds raised during the BULLA launch came not only in BNB but also in USD1 — a stablecoin launched with support from the Trump family. This raised additional concerns given the reputation of previous crypto projects associated with Hasbulla.

In 2024, he launched the token BARSIK — named after his cat. Over 60% of the supply was allocated to insiders, and the price soon collapsed by nearly 100%. In the past 24 hours alone, BARSIK dropped another 57%, down to $0.0023.

Hasbulla's Cat (BARSIK) to USD Price Chart. Source: Coinmarketcap

Prior to this, in 2021 and 2023, Hasbulla launched two separate NFT collections, both of which were later shut down without fulfilling their initial promises.

Signs of a Pump & Dump Scheme and Possible Repeat

With BARSIK, the team aggressively promoted the token while, according to blockchain data, simultaneously dumping their own holdings. Given the similar dynamics seen in BULLA’s launch, analysts consider it a continuation of the same strategy — where the project accumulates liquidity and quickly exits.

According to specialists, the event appears to be another “retail engagement play” — a short-lived hype cycle followed by a sharp decline. Seasoned market participants are likely to avoid it, while newcomers may end up holding the losses.

Previous Support From DWFLabs

The BARSIK token previously received backing from DWFLabs — one of the leading investment and market-making firms in the Web3 sector. At the time, the partnership was said to aim at strengthening the memecoin’s position and expanding its community.

This post is for informational purposes only and is not an ad or investment advice. Please do your own research making any decisions.

Comments

0

All comments are moderated according to the portal rules