- MOTHER token’s price jumped as much as 50% after an announcement of a partnership with DWF Labs
- The token’s price surged to over 4 cents following the news
- DWF Labs did not provide specifics about the nature of the partnership with rapper Iggy Azalea
On July 11, 2024, the price of the MOTHER token rose as much as 50% following news that DWF Labs would be partnering with rapper Iggy Azalea on an unspecified project. The announcement led to a surge of interest and trading volume for the previously obscure meme coin.
Details of the Price Increase
Within hours of DWF Labs tweeting about its collaboration with Azalea, the price of MOTHER jumped from around 3 cents to over 4 cents, a rise of more than 30%. At its peak, the token had climbed nearly 50% from its pre-announcement levels.
The rally was fueled by a spike in trading activity, with 24-hour trading volume rising from under $300,000 to over $3.5 million at the height of the frenzy. The surge of interest appears driven by speculation about what Azalea and DWF Labs’ project might entail.
Azalea’s History with Crypto
While details remain scarce, Azalea is no stranger to the crypto space. The Australian rapper has previously incorporated crypto themes into her songs and videos. She also sold NFT artworks last year.
Azalea stoked further curiosity about the forthcoming project with vague tweets alluding to the transformative potential of crypto turning early holders into millionaires.
Conclusion
The MOTHER token price jump underscores the power of celebrity partnerships and announcements to drive value and stoke interest in otherwise lesser-known crypto projects. As Azalea and DWF Labs eventually unveil more details about their collaboration, it will be telling to see if the meme coin can sustain its newfound momentum and heightened profile.
