Solana
Iggy Azalea’s Solana Meme Coin Skyrockets 30% to $100 Million, All-Time High
Gamza Khanzadaev
Iggy Azalea’s MOTHER meme coin on the Solana blockchain rises 30%, reaching a market cap of $100 million just a week after its controversial launch
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Iggy Azalea’s cryptocurrency meme, MOTHER, continues to take the crypto world by storm, jumping 30% in value to $0.1 per token today. This epic surge pushed MOTHER’s market cap to a whopping $100 million, just one week after its market launch. Solana blockchain.
As a reminder, the launch of MOTHER encountered difficult conditions from the start. Shortly after the launch, reports emerged that insiders had purchased over 20% of the total supply, leading to over $2 million worth of coins being sold early in the trading. trades. This sparked accusations of insider trading and raised fears that the artist may have transferred a significant portion of the tokens to his subscribers.
Faced with these allegations, Azalea took action. She reportedly hired a development team, set up a token burning system to reduce supply, and spent significant time interacting directly with the crypto community to address their concerns and build trust.
Source: DEX filter
These efforts appear to have paid off, as investor confidence in MOTHER has increased along with its price. The token’s rapid rise indicates growing interest and positive attention from crypto enthusiasts, despite initial skepticism and controversy.
But MOTHER’s story is also a reminder: be careful with new cryptocurrencies, especially those launched by celebrities. It is essential to do your homework and be careful, as many of these tokens can be a short-lived scam.
About the Author
Gamza Khanzadaev
Financial analyst, trader and crypto enthusiast.
Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master’s program in banking and asset management.
He wants to participate in covering economic and financial technology topics, as well as making more people aware of cryptocurrencies and blockchain.