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In late May 2023 I received a Telegram message from “Freddie”, a person I’d interacted with in two cryptocurrency projects I invested in. He extended an offer to help support a month-old memecoin project called “Zeleboba“. Through my work with Vulkania, another project on BSC, I’d heard of Zeleboba. Zeleboba sponsored a round of Vulkania’s Crypto League, offering 1% of their token supply to Vulkania’s Top 400 holders. It was their first marketing partnership. At that time, the token’s market cap was somewhere in the $40,000 to $60,000 range with weak liquidity.

As I write this, Zeleboba is coming off an all-time high of nearly $500,000 market cap and currently sits at $360,000. This pop happened over a matter of days. Due to the team’s smart moves, liquidity strengthened tremendously. The team plans to take $ZELE beyond memecoin status and make it a major contender for investment dollars.

Zeleboba? Oh, You Mean Sesame Street Characters?

What is a Zeleboba? I actually “Googled” it and its pronunciation (ze-lee bo ba). I had to make sure I wasn’t working with something that went against my personal values and beliefs. The image that popped up instantly reminded me of childhood. It all started making sense – the name, the logo, and the meme potential. To me, Zeleboba has the most meme-able characters in the entire cryptoverse. Its fun and the human-like qualities make the characters adaptable in any situation. You can check them out on Twitter for confirmation of this.

Making Money Moves

To understand the potential of Zeleboba, let’s look at what the team accomplished in their first 60 days.

Late April/May

• Launched, renounced contract, burned LP, created social channels, sponsored Crypto League

June

• Airdrops, grew holder numbers, redesigned website, healthier social media presence, announced utilities, giveaways, 1.3% token burn, opened Turkish Telegram channel, $130,000 market cap

Mid–July

• Opened flexible staking pool, liquidity farm, grew socials, marketing to Turkish market, giveaways, 3 YouTube features (Turkish 1, Turkish 2, English), over 600 holders, $480,000+ market cap

These moves by the team are attracting a lot of healthy attention and strengthening the token, and frankly, they’ve accomplished a lot more than some token teams have done in a year’s time. The liquidity to market cap ratio is approaching the 1:10 range. The closer this ratio comes to 1:1, the less dramatic the impact of buys and sells on the $ZELE chart. The team has further plans to allocate a portion of supply toward future staking pools. There have also been references to selling Zeleboba NFTs with some special perks for holders. Behind the scenes, the team is working closely with my favorite builder – Brewlabs.

So Where’s the Value?

This is a tough one to call. Memecoin success depends largely on marketing and community. So far the community has been great, but it is a comparatively small and developing community. Zeleboba just needs the right catalyst to ignite growth. The token is yet to be listed on CoinMarketCap and CoinGecko. This means the timing is great for early holders. I do not see Zeleboba retreating to its early market cap numbers. Once listed on CMC and CG, a market cap of $5 to $10 million is well within reach. Any figures beyond that will require a huge marketing push. With that said, it’s still early enough for a 10x or 20x return. As a holder, I salivate at the idea of a 100x or 1000x return. I can say with some level of certainty that the team has the will to see this token pop, and the meme characters are AWESOME! The ingredients are there. I believe $ZELE can be a major player going into 2024.

Token Details

Zeleboba is currently on the Binance Smartchain.

Token Supply: 1,000,000,000,000,000

Token Burn: 12,957,865,917,563

Staked Supply: 91,938,804,406,187 (9.2%)

Market Cap: $360,000

Liquidity: $29,000

Risks

Memecoins are one of the riskiest ventures in crypto, with a 99% failure rate (those numbers include willful bad actors). A renounced contract and burned liquidity offer some assurance that the token is not a rug pull. The team controls a significant amount of supply, so there is a risk that team members can sell and create chaos on the chart. With that said, the team has gone out of their way to reassure holders that their intentions are for the good of the token and its holders. They fund development and marketing without selling $ZELE tokens. They are also very transparent in their plans and dealings.

Socials

Web: zeleboba.online

Twitter: @zeleboba_lfg

Telegram: t.me/zeleboba_lfg (English) t.me/zeleboba_lfgTRKY (Turkish)

Disclosure: I hold roughly 1% of Zeleboba supply.