The meme coin frenzy shows no sign of slowing down, and this week, Hasbulla’s BULLA token has taken center stage. The token surged >30% today, bouncing back from steep losses earlier this month. Yet, despite the rally, skepticism around the coin’s legitimacy is growing louder.
BULLA, a Binance Smart Chain token linked to Russian social media personality Hasbulla, launched on June 8 with a staggering $100 million market cap. Within just five days, however, $70 million vanished as the token’s value plunged—a move that fueled early accusations of a rug pull. Since then, BULLA has been on a volatile ride, characterized by brief spikes followed by sharp drops.
What reignited interest this week was BULLA’s inclusion on Binance Alpha, a move that brought fresh attention and a significant airdrop. The listing briefly tanked the price by 50%, which typically signals the end of a pump-and-dump cycle. But the price soon recovered and then some, climbing nearly 50% since Thursday.
The token $BULLA (from @hasbulla_main) is down ~50% since announcing a partnership with Binance Alpha.
— dethective (@dethective) June 23, 2025
The whole scam narrative relies on claiming endorsement from Binance.
Then it got endorsed, and the only thing it's doing is dumping.
Guess who's selling. pic.twitter.com/KEqk6txci7
Despite this recovery, doubts persist. Hasbulla has a checkered history with meme coins, most of which have faced scam allegations. The lack of transparency around BULLA’s tokenomics and project roadmap has done little to calm concerns.
Analysts have pointed to possible involvement from DWF Labs, a controversial trading firm with past ties to Hasbulla. However, no solid evidence has emerged linking the firm to the recent price action. It’s also possible the sudden surge was driven entirely by internal coordination, not outside investment.
Still, for many in the crypto community, Hasbulla’s past speaks louder than any price movement. While the token continues to trend and rack up trading volume, its long-term sustainability remains highly questionable. Even seasoned analysts admit they’re unlikely to dig deep without hard proof of manipulation—leaving retail investors largely on their own.
In the end, BULLA’s future hinges not on hype but on trust—something that’s proven elusive in this case.
