This week's celebrity meme coin craze took a new turn late Tuesday when Iggy Azalea, the Australian rapper known for her decade-old hit “Fancy,” launched her own meme coin. Solana Meme coin, MOTHER. And the crypto community seems broadly convinced that Azalea may be the real deal and not just a quick buck.
MOTHER has seen a massive surge since Azalea's tweet on Tuesday, with its price now sitting above $0.015 and its market cap exceeding $15 million, up more than 22,000%. Amid a flurry of tweets, retweets and Twitter Space appearances from the musician, the Solana-based token has traded more than $150 million in less than a day.
“Crypto is sexy,” she says. He wrote in a tweet It has been viewed more than 800,000 times since Tuesday night. Hosted a Twitter space The song of the same name attracted around 382,000 unique listeners during its early feeding feeding feeding.
Azalea’s MOTHER token emerged amid turmoil and controversy. Azalea was linked to Sahil Arora, a crypto promoter who backed media personality and Olympic gold medalist Caitlyn Jenner. Launching our own Solana meme coin Earlier this week, before Jenner distanced herself from Alora. He owes her a “large amount of money.”
Ahead of MOTHER's release on Tuesday, Azalea tweeted something similar, saying she's been “in contact” with Arora. “It just goes to show that he's a mean guy.” later, she tweeted She said no one was “working with” the token launch, adding, “Sahil, take the L and go fast.”
Arora has reportedly raised around $380,000 worth of presale funds to launch a token called IGGY, which he claims is for Azalea, but which has yet to be airdropped to those who sent him the funds.
On Tuesday night, amid the frenzy of trading surrounding MOTHER, Azaria hosted a space where he spent hours interacting with crypto Twitter users, presenting himself as someone new to building in the crypto space but wanting to make a lasting impact — someone who doesn't want to pump-and-dump or use his fame to make a quick buck and then disappear.
“I just want it to be a pop culture moment while we learn.” [and] A map for doing things the right way.” she tweeted Early Wednesday morning.
Still, questions remain surrounding MOTHER's decline. Azalea said it holds 3% of the token supply, but blockchain data startup BubbleMap found through on-chain data that roughly 20% of the supply is now in the red. “Insider” buys Before she even announced her token, she sold it, making holders millions of dollars worth of profits.
“On the other hand, this is my concept/coin, so I [bear] Responsibility for random things [people] What to do with your wallet? She wrote He responded in a quote tweet: “In fact, them dumping the coin will only make my goal of having a coin that is actually part of pop culture that much harder to achieve.”
Some notable figures in the crypto industry have appeared to support Azalea's entry into the space, sharing tweets of praise for her approach and casting her in her favor amid skepticism, both regarding celebrity meme coins in general and specifically the furor surrounding Arora and her apparent efforts to distance herself from its controversial promoters.
“Iggy Azalea is the most cultured celebrity to ever enter the field.” Tweeted “She spat low key,” said Mika, creator and influencer at RagRadio.
“She's absolutely amazing to say the least,” wrote Rohun “Frank” Vora, creator of the DeGods project.
Admittedly, not everyone expected the best from the entertainer. I doubted her explanation. While “insiders” are leading the way, He pointed to regulatory crackdown We've seen this in the past with other crypto-promoting celebrities (such as Kim Kardashian).
Mother is 20% decrease Despite hitting an all-time high overnight and then soaring higher, the notoriously volatile meme coin is still seeing big gains since its launch. And Azaria has been tweeting all this time, with more than $100,000 this afternoon alone. She's “awake and burning” I finally got some sleep so I earned some more tokens.
Given the twists and turns surrounding the celebrity coin this week and the subsequent shift in atmosphere, we'll know if the crypto world has embraced her yet by the time Azaria wakes up and burns some more MOTHER for the meme coin's cause.
