Solana
Rapper Iggy Azalea Joins Controversial Celebrity Token Frenzy — TradingView News
Over the past week, a controversial celebrity token trend has emerged. Mainstream media figures have started launching memecoins based on Solana and clearly seem interested in cryptocurrencies.
The latest star to join the celebrity frenzy is Australian rapper Iggy Azalea, who saw a controversial launch similar to Caitlyn Jenner’s JENNER token.
Who is Solana?
On Monday, Azalea surprised the crypto community by showing interest in cryptocurrencies. The rapper and model posted on X asking, “Who is Solana?” I don’t know this bitch.
The post garnered over 1.8 million views and sparked controversy in different communities. “Stan Twitter” interpreted the post as putting down American R&B singer SZA, leading many fans to attack Azalea. However, the rapper quickly clarified the issue by responding, “Girl, I’m talking about crypto. »
NewsBTC
After that, Azalea found her introduction to the crypto community overshadowed by allegations of her involvement with alleged scammer Sahil Arora. As reported by NewsBTC, Arora was reportedly responsible for launching several celebrity and influencer tokens, which he ultimately robust.
Rapper Rich The Kid and Olympian Caitlyn Jenner called him out for scamming them and taking advantage of their followers. Both celebrities continued their crypto journey, promoting their tokens and engaging with community members.
Following the scam allegations, Arora apparently continued to take advantage of crypto investors. Azalea accuses the alleged serial scammer of having “used his image” while the rapper distances himself from his practices.
On the fast track from music to crypto
Azalea explained that Arora and his team had a conversation regarding crypto, but that its recently launched token was unrelated. Arora allegedly fabricated fake screenshots and used the rapper’s name to raise more than $380,000 during a presale of a token named IGGY.
As reported by an X user, Arora claimed to work with the Australian rapper on Telegram. It said its next “mega-launch” would take place in the next 12 to 24 hours.
After raising 2,246 Solana (SOL), the alleged scammer told investors they would get “WL automation for all subsequent launches.” Additionally, investors would receive a “rationally 10% SOL airdrop” on Arora’s profits with each launch and a “$iggy airdrop when we reach $10 million market cap.”
However, Azalea launched another Solana-based token called MOTHER on Tuesday. The token refers to the cultural term LGTBQ+ which has been popularized in recent years in online Stan culture.
Azalea’s token launched just hours after Arora’s IGGY token, confusing investors. After being questioned, the rapper explained that she launched her Solana-based token to prevent Arora from profiting off her name:
I never went on a date, it was something I was interested in, hence the conversation with my people. He did a weird presale yesterday and said I was doing a play with him today so I decided to leave one so he couldn’t use me for his weird scam. If I had my own coin, I thought his would die. It’s so simple.
The community continued to question her connection to Arora after she posted an Instagram story with a man who looks like him. However, it was later revealed that the individual was Azalea’s brother, Mathias Kelly. MOTHER beats IGGY
According to Solana Floor, MOTHER reached a market capitalization of $50 million at its peak. The token soared 63,000% in the following hours, from $0.00004968 to $0.03179.
Over the past 16 hours, the token has accumulated a trading volume of $126.8 million. At the time of writing, MOTHER is trading at $0.01634, representing a 21,000% increase from its launch price.
In comparison, Arora’s IGGY token saw its price rise to $0.009288 after its launch before dropping below the $0.00020 range. Currently, the scam token is trading at $0.0001354 and has a market cap of $134,000.
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