- Ben Armstrong, popularly known as Bitboy, is promoting a memecoin named BEN.
- The memecoin has been listed on CoinMarketCap and is currently occupying the 2655th position.
- Many are hoping BEN pulls off a PEPE moment, although others think it will rug soon.
Ben Armstrong has promoted a memecoin named BEN and has purchased a bagful of the new token. According to Armstrong, who is popularly known in the crypto space as Bitboy Crypto, he wants to invest in “myself.”
It is not clear if the new memecoin was founded or owned by Bitboy. The majority of people concerned believe that he did not create BEN, although he may have ulterior motives for promoting the memecoin.
Bitboy also revealed that BEN has a decentralized autonomous organization (DAO) on messaging platform Telegram.
As to the utility of BEN, the official Twitter handle of the memecoin did not provide any special purpose aside from the usual utilities of memecoins. BEN has been listed on CoinMarketCap already and is currently occupying the 2655th spot in terms of market capitalization.
Specifically, BEN has a market capitalization of $12,213,285, at the time of writing. It also had a 24-hour trading volume of $9.3 million.
While many people have expressed their interest in buying BEN with the hope of attaining what Pepe (PEPE) just accomplished, others are suspicious of a potential rug pull.
On-chain detective Zach also expressed his aversion to the memecoin.
Since last month, memecoins have been taking the spotlight, with many crypto exchanges joining the bandwagon to cater to the desire of crypto traders and investors of getting rich quickly. However, some memecoins like PEPE are starting to witness huge sells from early investors.
