Controversial crypto influencer Ben Armstrong, alias BitBoy, has announced the launch of a new cryptocurrency token $BEN.
BEN is the governance token for Bitboy’s decentralized autonomous community tagged Ben DAO.
The influencer took to Twitter to share the development on May 8, highlighting a few key elements about the token. The Ben token has been live for two days before Bitboy’s announcement.
Ben Token Touted As Top Of The Meme Coin Cycle
With an as-yet unknown utility other than ‘being better than JEFF token. According to a crypto Twitter user @inversebrah, BEN has been trading for two days before Ben Armstrong’s disclosure.
The social sentiment for BEN appears bullish, with many commenting good things about the newly launched token.
Some were even displeased that BitBoy didn’t inform them earlier about the coin. McKenna, a reputable Twitter user with 61.5K followers, branded Bitboy’s token as a top signal.
Some think Bitboy owns the token, but he claims the token was created for his group, Ben DAO.
In BitBoy’s words, he belongs to a group called Ben DAO “with all the important Bens in crypto.” According to Bitboy, Ben token started as a fun thing that he didn’t expect will get serious.
When asked why he decided to do it, Bitboy said the coin’s market cap became 1 million overnight, turning what started as a joke into a serious investment.
Ben Armstrong also disclosed he has Ben tokens in his portfolio. He listed some key facts about the coin noting it bears his name and that Ben DAO is on Telegram.
Again, Bitboy made bullish remarks about his Ben token, touting it as a better coin that will outpace JEFF coin to become the number one.
As stated earlier, Bitboy is a controversial figure in the crypto community, disliked by many despite having up to 1 million followers. Bitboy is famous for his spat with defunct exchange FTX’s former CEO Sam Bankman-Fried.
He criticized Bankman-Fried over the collapse of the crypto exchange, condemning several celebrities for promoting FTX.
Reports even stated that Bitboy traveled to the Bahamas during the FTX fiasco to confront Bankman-Fried.
New Cryptocurrency $Ben Goes Viral With Initial Price Rally
CoinGecko data shows Ben token currently has an over $21.9 million market cap. Its 24-hour trading volume is $37.83 million, a 93% increase in the last day.
The token reached an all-time high of $0.000000056947 on May 8. This was from an initial price of $0.000000021932, depicting a 159.47% price increase.
CoinMarketCap data shows the token has increased over 400% in the last day and trades at $0.0000000458. The Ben/WETH pair currently has a liquidity of $1.97 million.
Trending Meme Coin Alternatives
While the token has performed well so far, Ben’s dogged reputation on crypto Twitter could affect the $BEN price in the coming days, with several influencers critical of his new project.
This week we highlighted some new trending meme tokens in this article that could be a better bet.
Also see our recently updated breakdown of the 16 best new cryptocurrency projects of 2023.