Solana
Iggy Azalea Launches Solana With Mad Lads PFP As MOTHER Approaches $90M Market Cap
Rapper Iggy Azalea’s MOTHER Token on Solana saw a spark of commercial demand over the weekend, reaching a record price on Saturday, just days after its launch. And the musician, who has been widely adopted by Crypto Twitter, continued her constant tweets with a familiar profile picture (PFP) in tow.
Azalea began to adopt a custom Mad Lads PFP Friday, one day after the Solana project tweeted a custom honorary avatar for her, it was apparently based on photo reference. Mad Lads is by far the most valuable Solana NFT collection, currently standing at over $10,300 worth of SOL on secondary markets.
A day after equipping the PFP, Azalea’s MOTHER token reached a new all-time high price of $0.08952, per data from CoinMarketCapgiving it a market capitalization of $88.7 million.
The price fell by almost half on Sunday evening, but then rebounded again on Monday, almost reaching the previous high before starting to fall again. At the time of writing, MOTHER is priced above $0.72, giving it a market cap of over $70 million. That’s up 34% on the day.
The rapper’s entry into the crypto market last week was marked by drama. She launched the token after controversial crypto promoter Sahil Arora helped her. deploy Caitlin Jenner meme piece earlier in the week – teased an IGGY token and raised $380,000 of pre-sale funds for a token that ultimately had nothing to do with her.
Azalea said she ultimately decided not to work with Arora and tweeted to him publicly to “grab your L and leave already”. Azalea was widely praised by traders on Twitter for being so engaged and admitting that she was learning as she went, promising that the meme coin would not be a simple cash grab or pump and dump.
Nearly a week later, she’s still in the (Crypto Twitter) arena, spreading memes and rocking a custom PFP as her token flirts with higher gains once again.