Traders Face Fact As Iggy Azalea’s MOTHER Token Surpasses $100M Market Cap

After MOTHER’s initial hemorrhage that lasted until early June, the token has since reached a market capitalization of $108 million.

The official MOTHER token image, seen on CoinGecko, is one of Iggy Azalea’s thirst traps, a common slang expression referring to images intended to sexually arouse viewers.

(Shutterstock/Debby Wong)

Published June 5, 2024 at 7:36 am EST.

Some traders faced the spotlight from MOTHER, the token deployed by Australian rapper Iggy Azalea and her team, which surpassed a market capitalization of $100 million on Wednesday. The Solana-based cryptocurrency, which was only rolled out last week, reached a significant market cap of $108 million.

Coping refers to a person accepting the missed opportunity of not purchasing an asset, a consequence of the fear of missing out, or of taking profits too early before a gigantic rise in percentages.

MOTHER’s price movement has consistently posted higher lows since its May 31 low. (DexTools)

After MOTHER’s initial drop to fractions of a cent that lasted until the last day of May, the token has since climbed to a high of 11 cents, an increase of over 2,260%, according to data from CoinGecko.

A social media post from a crypto user coping. (X)

MOTHER’s strong upward bounce comes as other celebrity tokens launched around the same time continue to dry up, such as that of singer-songwriter Davido. DAVIDtelevision personality Caitlyn Jenner JENNERand hip-hop artist Rich The Kid’s RICH.

On Solana-based DEX Raydium, MOTHER has a liquidity level higher than $660,000 and generated approximately $3.2 million in 24-hour trading volume. On Solana’s native Orca DEX alternative, Azalea’s token has more $1.45 million in liquidity across four SOL pools, all four generating over $3.8 million in trading volume over the same period.

On the other hand, TEMPERINGa Solana-native memecoin inspired by the incorrect spelling of likely Republican presidential candidate Donald Trump, has a slightly larger market cap of over $150 million and over $3 million in liquidity. from from four SOL pools, but its 24-hour trading volume is less than half: $1.1 million, also on Orca.

Azalea goes crypto native

Since the rollout of its token, some crypto users have noticed that Azalea has shown more dedication to the crypto ecosystem than its famous peers. Whether it’s joining Twitter Spaces for hours, using Telegram, or posting memes, “Iggy hustles and shows her commitment to being a part of this space.” wrote a user X with the handle, @Kev4Evaa.

Azalea shared a meme referencing security guard John Michael Wozniak shrugging his shoulders after beating six-time NBA champion Michael Jordan in a coin toss game. (Iggy Azalée/X)

“Iggy is a better poster than 99% of crypto-twitterers” added the famous memecoin trader Ansem. Azalea also changed her profile picture on social media platform Magical Eden during the last day.

By using a Mad Lads NFT as her profile photo, Azalea can use the NFT community for “business development needs” and consultation to navigate the space, Kev4Evaa said.

“We all know that in the future celebrities will use Web3 to create and manage fan bases, this could be the start of a proper move for someone now,” said Kev4Evaa. “Obviously this is just speculation… but given how serious she seems about learning about space, culture, and becoming a part of space, she has my vote. NFA.

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