Bubblemaps has visualized the token distribution for Boop crypto, a fairly new token that stems from the new Solana-based meme coin launchpad Boop.fun. BOOP has gone up more than 200%.
On May 2, the on-chain analysis platform Bubblemaps showed traders the token distribution for Boop crypto amidst growing buzz surrounding the launchpad’s reward mechanism. According to the official tokenomics, 50% of the tokens will be allocated to a rewards pool for creators and holders.
One of the platform’s unique features is its rewards program that grants Boop tokens to “graduate cults,” which are tokens created on the platform that meet certain milestone criteria. However, traders have grown skeptical of whether the platform will deliver on this promise.
Determined to verify the information, Bubblemaps’ visualization reveals the project’s token distribution matches its tokenomics claim, with that the biggest allocation of Boop tokens going into the rewards pool. Meanwhile, 15% of its token supply has been set aside for airdrops and 10% goes to the project team.
“The bubble map of $BOOP matches their tokenomics. It’s simple — just bubble it,” wrote Bubblemaps in its recent post.
According to data on GMGN.Ai, the fairly new token has soared as high as 242% in the past 24 hours. It is currently trading hands at a price of around $0.45. The meme coin launchpad’s token has accumulated a market cap of $350 million and a daily trading volume of $108 million.
What is Boop crypto?
Launched on May 1, $BOOP is the token of new Solana (SOL) -based meme coin launch platform Boop.fun. It bears the icon of an animated blue cat winking. The meme coin launchpad was reportedly founded by NFT whale and crypto influencer Dingaling.
What sets the platform apart from other meme coin launchpads like Pump.fun and PancakeSwap is that boop.fun distributes transaction fees to BOOP token holders through its rewards program.
So far, the platform claims it has allocated at least 150 million Boop crypto to be distributed to active users and influencers through a series of airdrops. In a partnership with KaitoAI, the platform identifies top X “influencers” based on followers, engagement, and meme-related activity, sorting them into tiers.
Users must create a boop “cult” after creating an account via X to claim airdrops. Airdropped tokens are locked for 30 days, with faster unlocking depending on the token’s performance. However, this mechanism has sparked trader speculation, due to concerns about potential exploitation if not properly managed.
