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Taco Bell Employee's "TacoBoss" Memecoin Skyrockets to $2 Million Market Cap

Published on March 15, 2024 | By Alex Rivera
TacoBoss Memecoin Logo

The "TacoBoss" memecoin logo featuring a cartoon version of manager Dave Martinez. Image credit: Jason Lee

AUSTIN, TX — What started as a joke during a late-night shift at Taco Bell has turned 23-year-old Jason Lee into a cryptocurrency sensation and millionaire—at least on paper.

Lee, a computer science student who works part-time at a Taco Bell location in North Austin, created "TacoBoss" ($TBOSS), a cryptocurrency token featuring a cartoon caricature of his manager, Dave Martinez. In just three weeks, the token's market capitalization has exploded to over $2 million.

"It was just a meme I made during my break," Lee explained in a video interview. "Dave is this really cool manager who always says 'Let's make this taco happen!' whenever we get busy. The crew finds it hilarious but also motivating."

Lee, who has been studying blockchain technology in his spare time, decided to turn the inside joke into a cryptocurrency token on the Solana blockchain. He spent approximately $200 to launch the token and created a simple website featuring animated tacos and catchphrases commonly used by Martinez.

"I launched it on February 20th and shared it with a few crypto groups on Discord and Reddit," Lee said. "I thought maybe my coworkers would buy a few tokens for fun, and that would be it."

But the quirky concept and catchy marketing—including the tagline "To The Moon With Extra Cheese!"—struck a chord with the cryptocurrency community, which has embraced increasingly niche memecoins in recent months.

By the end of the first week, TacoBoss had gained over 1,000 holders and was trading at ten times its initial price. The momentum continued to build when several cryptocurrency influencers highlighted the token on social media, praising its "authentic meme origins" and "genuinely funny concept."

The coin, officially named "BEST BOSS EVER (TBOSS)," can be found on the popular Solana memecoin platform Pump.fun here, where its current market cap continues to fluctuate as new investors discover the project.

Martinez, the unwitting face of the cryptocurrency, was initially confused when customers began asking for his autograph and requesting photos with him.

"At first I thought Jason was playing a prank on me," Martinez said. "Then he showed me that my face was on this digital coin thing worth actual money. It's completely surreal."

Rather than being upset about his likeness being used, Martinez has embraced his newfound crypto fame. He has even appeared on several cryptocurrency podcasts, where his authentic enthusiasm and complete lack of understanding about blockchain technology have made him an endearing figure in the community.

"I still don't really get how it works," Martinez admitted. "But if people are having fun with it, that's what matters. I'm just a guy who loves tacos and loves his team."

Lee, who retained 10% of the token supply, is now sitting on a theoretical fortune of approximately $200,000. However, he's been careful not to cash out too quickly, which could tank the token's value.

"I've only sold about 5% of my holdings to pay off some student loans," Lee said. "I'm more interested in building this into something that lasts beyond the initial hype."

To that end, Lee has announced plans to create a "TacoBoss DAO" (decentralized autonomous organization) that will donate a portion of transaction fees to food security charities. He's also working on a mobile game where players can earn small amounts of the token.

Cryptocurrency experts caution that memecoins are highly volatile and risky investments. Dr. Elaine Zhao, a finance professor at the University of Texas who specializes in digital assets, notes that most memecoins eventually lose most or all of their value.

"What we're seeing with TacoBoss is a perfect storm of novelty, humor, and timing in a market that's currently receptive to these types of tokens," Dr. Zhao explained. "But investors should understand that the fundamental value is essentially zero, and they're betting purely on continued social interest."

For now, both Lee and Martinez are enjoying the unexpected attention. Taco Bell corporate has even taken notice, with a spokesperson confirming they are "aware of and monitoring the situation" but declining to comment further.

As for whether Martinez will quit his job now that his face is worth millions in the crypto world, he laughs at the suggestion.

"No way! I love my job, and now I get to meet crypto people who come through the drive-thru," he said. "Besides, someone's got to make sure these tacos happen!"