As a researcher with a background in the crypto market, I’ve seen my fair share of celebrity-backed memecoins making waves in the community. The recent launch of MOTHER by rapper and songwriter Iggy Azalea has certainly stirred up some interesting discussions and debates.
Last week, the launch of MOTHER, a memecoin by rapper and songwriter Iggy Azalea, sparked an intense discussion among the community. Notable figures such as Vitalik Buterin shared their perspectives as more celebrity-backed memecoins entered the market, fueling the crypto price surge.
Vitalik expressed his disappointment with the recent trend of “celebrity experiments” in the crypto world, specifically regarding the MOTHER token, sparking a lively debate among participants.
Iggy Azalea, or someone representing her, could have heeded Vitalik’s remarks. Intriguingly, Iggy declared the resurrection of her telecommunications firm. Remarkably, MOTHER and SOL token holders were granted the opportunity to utilize their digital assets for purchasing phones and subscribing to carrier plans.
Tomorrow marks the long-awaited relaunch of the telecommunications company I co-founded. Starting from then, customers will have the opportunity to buy phones or monthly cell plans using MOTHER or Sol. However, one user suggested a partnership with Helium, the mobile network provider. In response, she stated respectfully, “Given that I’m the owner of a service provider, there is unfortunately no space for collaboration. This now translates into market competition.”
As an analyst, I’ve observed an exciting development in the MOTHER market. Following the recent announcement of a new utility for this mobile company, MOTHER’s price experienced a significant surge, increasing by approximately 30%. The anticipation among holders is that the price will continue to climb as the ad campaign for the company’s relaunch kicks off this week. With heightened expectations comes increased buzz and social media engagement, creating a ripple effect that is expected to further boost MOTHER’s value.
When MOTHER’s price surged, other memecoins followed suit by dipping into the red zone following the decline in GameStop’s stock value and the overall crypto market trend that turned bearish due to the publication of the non-farm payrolls report.
In a downturn, DOGE, SHIB experienced declines of more than 10% each, with SHIB approaching a 17% drop. The value of other well-known memecoins, such as BONK and BOME, plummeted by over 20%. Subsequently, the total memecoin market saw a decrease of approximately 12.8%, amounting to $5.8 billion within a day following Iggy Azalea’s announcement.
Image: Iggy Azalea on X
Read More
- CKB PREDICTION. CKB cryptocurrency
- EUR INR PREDICTION
- PBX PREDICTION. PBX cryptocurrency
- PENDLE PREDICTION. PENDLE cryptocurrency
- IMX PREDICTION. IMX cryptocurrency
- TANK PREDICTION. TANK cryptocurrency
- W PREDICTION. W cryptocurrency
- ICP PREDICTION. ICP cryptocurrency
- USD DKK PREDICTION
- GEAR PREDICTION. GEAR cryptocurrency
2024-06-11 14:29