- Iggy Azalea’s meme cryptocurrency, MOTHER, surged 30% in value to hit $0.1 per token, pushing its market capitalization to $100 million just a week after launching on the Solana blockchain.
- The launch of MOTHER faced allegations of insider trading, but Azalea took measures like hiring a development team, setting up a token burning system, and interacting with the crypto community to build trust.
- Despite initial skepticism and controversy, MOTHER’s rapid price rise indicates growing interest and positive attention among crypto enthusiasts.
Iggy Azalea‘s meme cryptocurrency, MOTHER, continues to take the crypto world by storm. The coin has jumped 30% in value to hit $0.1 per token, pushing its market capitalization to $100 million just a week after launching on the Solana blockchain.
Launch Faced Controversy
The launch of MOTHER faced some rough waters from the start. Soon after launch, reports surfaced that insiders had purchased over 20% of the total supply. This led to accusations of insider trading and concerns that Azalea might have unloaded a significant portion of the tokens on followers.
Azalea Took Action to Build Trust
In response to the allegations, Azalea allegedly hired a development team, set up a token burning system to reduce supply, and spent time interacting with the crypto community to build trust.
Rapid Price Rise Indicates Growing Interest
These efforts seem to have paid off as confidence and price have surged despite initial skepticism. MOTHER’s rapid rise indicates growing interest among crypto enthusiasts.
Reminder to be Cautious with New Cryptocurrencies
MOTHER’s story serves as a reminder to be careful with new cryptocurrencies, especially those launched by celebrities. It is essential to do thorough research as many of these tokens can be short-lived scams.
