Australian rapper Iggy Azalea has made a bold entrance into the world of cryptocurrency with her very own digital currency, Mother Iggy (MOTHER). Since its launch in late May, MOTHER has captured the attention of many, thanks to its soaring value and Azalea’s active engagement on social media.
Following a significant surge, MOTHER’s market capitalization nearly hit the US$250 million mark, largely due to a substantial purchase by a whale on the Solana network.
Azalea, famous for her hit song “Fancy,” decided to explore the realm of cryptocurrencies after uncovering a scam involving a memecoin that had misused her name. She has since been dedicated to establishing legitimate use cases for MOTHER, with intentions to transform it into a stablecoin for long-term sustainability.
The introduction of MOTHER sparked various reactions, including criticism from prominent figures like Vitalik Buterin, the co-founder of Ethereum. Buterin raised concerns about the lack of utility in meme coins endorsed by celebrities. In response, Azalea stood her ground, asserting that “peace is not profitable for meme coins” and advising detractors to steer clear.
The rapper maintains that, despite accusations of being a ‘rug puller,’ she is fully committed to enhancing and preserving the value of her cryptocurrency. In her own words: “Peace is not profitable for meme coins and I tell the haters to get out of my way.”
As of the latest update, the price of MOTHER stands at US$0.158, reflecting a 6% decrease in the past 24 hours.
Disclaimer: The opinions expressed in this article, whether by the author or individuals mentioned, are purely for informational purposes and should not be construed as financial or investment advice. Trading or investing in cryptocurrencies carries inherent risks of financial loss.
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