Memecoins

Iggy Azalea Profits From Crypto, As Her ‘Memecoin’ Makes $194 Million In One Week

Published

5 months ago

7 June, 2024

Iggy Azalea Profits From Crypto, As Her 'Memecoin' Makes $194 Million In One Week

Iggy Azalea knows the power of a meme. On Wednesday afternoon, the Grammy-nominated rapper sharing a Photoshopped image of herself breastfeeding Vitalik Buterin, the founder of Ethereum. The caption: “He was just hungry. »

The meme was designed to troll Buterin after his reprimand of her Solana-base “memecoin”, Mother Iggy ($MOTHER), which began trading last week. Celebrities should only launch cryptocurrencies to serve “some sort of public good,” instead of “financialization as the end product,” he wrote.

He was just hungry pic.twitter.com/AlTwEtfIKd

-IGGY AZALÉE (@IGGYAZALEA) June 5, 2024

Memecoins are an ironic subculture in crypto. Anyone can start a motto in the name of anything. Merging finance, internet trends and gambling, investors flock to highly speculative assets during viral moments.

“I don’t think peace is very profitable when it comes to the memecoin landscape,” Azalea said in an interview with Fortune. “That’s what drives virality, that drives my community, and that drives our market cap, and that’s what I’m here for. So respectfully, walk away.

I’m feeling pretty unhappy with this cycle’s “celebrity experimentation” so far.

“Financialization as a means to an end” I can respect if the end is worth it (healthcare, open source software, art, etc.). Financialization *as final product*, 🤮

Ashton and Mila…

– vitalik.eth (@VitalikButerin) June 5, 2024

“Cash flow rules, make my own rules”

Six years after rapping Words “Cash rules, make my own rules,” Azalea does, well, exactly that. After its first week of trading, Mother Iggy’s price soared 1,200% to around $0.20, reaching a market capitalization of over $190 million. according to at CoinMarketCap starting June 7.

This highlights a broader trend of celebrities turning to memecoins to monetize and interact with their fans without an intermediary. Although some find this trend abhorrent, it appears to be both profitable and effective for some celebrities to get back into the spotlight.

“I’ve listened to more Iggy Azalea in the last few days than at any time in the last decade. Maybe there’s a lesson in that,” Teddy Fusaro, president of Bitwise Asset Management, told Fortune.

The launch of Mother Iggy was both accidental and deliberate. After spotting a scammer on Telegram posing as Azalea to launch a memecoin, she was forced to take action. “If this guy says he’ll flip my coin in 24 hours, I’ll flip mine in 23 hours,” she said.

But she has been observing crypto from the sidelines since 2020. Watching non-fungible tokens (NFT) and Web3 art projects came and went, she knew there was something for her in the industry – she just didn’t know what. Memecoins seemed to be a trend fueled by a language she speaks.

“I’m someone who has naturally had so many memes over the course of my career; things go viral on purpose or accidentally. I felt like it was a space I could really get involved in successfully,” she said.

Considered the currency of micro-trends, memecoins themselves have become the force behind crypto’s most recent renaissance, arguably usurping the role NFTs played during the previous bull market. The value of the popular Pepe ($PEPE) and Shiba Inu ($SHIB) has soared 363% and 201%, respectively, over the past year, according to CoinGecko data. Some of this year’s craziest hits? Jeo Boden, Doland Tremp, MAGA Hat, Elawn Moosk and even Good Gensler, trolling SEC Chairman Gary Gensler.

Economic nihilism?

Omid Malekan, an assistant professor at Columbia Business School, told Fortune that he sees memecoins as “the ultimate proof” that blockchain technology is the financial infrastructure of the digital age. “Where else could celebrities issue a fan asset without having to go through a gatekeeper and reach so many people? he says.

However, like all forms of democratization, this is a corner of crypto that is often riddled with scams. Issuers can deposit large sums on themselves, promote the coin to drive the price skyrocketing, and then pull the rug out from under them.

“These celebrity-backed coins are scams and will go to zero pretty quickly. While everyone should be able to use any platform, these coins omit important information, are misleading and often violate securities laws,” Terrence Yang, chief executive of Swan, told Fortune.

But Azalea insists she’s not a carpet puller. She says she wants to find a long-term use for the piece and thinks the celebrity buzz offers the retail industry a way to engage with Solana. The two startups she co-founded – a contract-free phone data provider and a giveaway and crowdfunding site – will allow customers to pay with Mother Iggy coins. But his ultimate goal is to make Mother Iggy a stablecoin. “It would be like the Holy Grail,” she said.

But not every memecoin project has proven successful, suggesting that a large online following does not guarantee investors. Last week, Caitlyn Jenner ($JENNER) also hit out at Solana. It has, however, been cast in Azalea’s shadow, reaching a market cap of less than $10 million, growing just 7% over the past week.

In the realm of critical memecoin theory, Azalea offers two pillars of success. The first is the willingness to engage with the crypto community where it is located. In his case, this involved creating a Telegram channel a few days after the negotiation. The second is the playfulness – cut to Azalea’s provocative memes – and exploitation of crypto’s trolling culture.

So rather than memecoins becoming a common tool in a celebrity’s arsenal, Azalea predicts that there will only be a handful that will be able to set the right tone and monetize.

Another obstacle celebrities may face is regulations. Malekan argues that unlike Bitcoin or Ether, memecoins should be treated legally as a game of chance, “otherwise it will be very easy for celebrities to abuse their own namecoin and treat it as a money grab.” money,” he adds. He wants issuers to be transparent about the amount they have retained and the high risk of volatility.

But ultimately he sees the growth of memecoins, actions memesand gambling as an indicator of economic nihilism: “People feel like they have to take risks with their money to get ahead. »

Fuente

Related Topics:Cryptocurrency Memes vitalik-buterin

Up Next

Andrew Tate Meme Coins Takes Over Solana

Don't Miss

GameStop Rally Takes Roaring Kitty Memecoins to New Heights

TokenTalk Staff

We are the editorial team of TokenTalk, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on TokenTalk, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

Click to comment

Memecoins

Memecoins dominate major derivatives in terms of open interest | Flash News Detail

Published

3 months ago

1 August, 2024

TokenTalk Staff

Bitcoin Dominance May Have Peaked, Ethereum ETF Could Trigger Altcoin Momentum

Disclaimer

Disclaimer: Blockchain.news provides content for informational purposes only. Under no circumstances shall blockchain.news be liable for any direct, indirect, incidental or consequential damages arising out of the use of, or inability to use, the information provided. This includes, but is not limited to, any loss or damage resulting from decisions made based on the content. Readers should conduct their own research and consult professionals before making any financial decisions.

Fuente

Memecoins

Have a profitable August with Shiba Inu and Mpeppe (MPEPE) Don’t miss the winnings

Published

3 months ago

1 August, 2024

TokenTalk Staff

Have a profitable August with Shiba Inu and Mpeppe (MPEPE) Don't miss the winnings

August offers investors a unique opportunity to capitalize on the potential gains offered by Shiba Inu (SHIB) and Mpeppe (MPEPE)These two memecoins take advantage of the viral nature of internet memes and popular culture, attracting a diverse and enthusiastic audience. In this article, we’ll look at why Shiba Inu (SHIB) and Mpeppe (MPEPE) are poised for gains this month and why you shouldn’t miss out on the potential profits.

The viral power of memecoins

Memecoins have the inherent ability to leverage the viral nature of internet memes and popular culture references. This can lead to rapid spread of the cryptocurrency’s brand and message across various online platforms, potentially appealing to a broader and more diverse audience. Shiba Inu (SHIB) and Mpeppe (MPEPE) are great examples of how this viral potential can translate into substantial community growth and market presence.

Shiba Inu: riding the wave of popularity

Shiba Inu (SHIB) has established itself as a major player in the memecoin space. With its cute canine mascot and strong community support, Shiba Inu (SHIB) has gained a significant following. The coin’s ecosystem continues to grow, with projects like ShibaSwap adding to its utility and appeal. Investors are optimistic about Shiba Inu’s future, expecting it to ride the wave of popularity that has kept it in the spotlight.

Ecosystem expansion

THE Shiba Inu (SHIB) The Shiba Inu (SHIB) ecosystem is constantly expanding, offering new features and utilities that enhance its value proposition. Projects like ShibaSwap provide users with opportunities to stake and earn rewards, making Shiba Inu (SHIB) more than just a meme currency. This expansion helps solidify its market position and attract a wider audience.

Balancing humor and professionalism

Mpeppe (MPEPE) offers a unique and light-hearted approach to the serious world of digital assets, balancing humor and professionalism. Inspired by internet memes and the dynamic energy of football fans, Mpeppe (MPEPE) is quickly gaining traction in the crypto community.

Mpeppe (MPEPE) offers an opportunity to reach a younger demographic and tap into the viral nature of internet culture. By balancing humor and professionalism, Mpeppe (MPEPE) appeals to a wide audience, from casual meme enthusiasts to serious investors. This strategy is similar to the one that made Shiba Inu (SHIB) so successful, but with a modern twist.

Expanding Reach and Adoption

Mpeppe’s (MPEPE) ability to leverage internet culture means it has the potential to rapidly expand its reach and adoption. The memecoin’s branding and community-driven approach make it accessible and appealing, much like Shiba Inu (SHIB) in its early days.

Why August is the month to invest

As the cryptocurrency market experiences a surge in interest, August presents a great opportunity to invest in promising assets like Shiba Inu (SHIB) and Mpeppe (MPEPE) Both coins are well positioned to capitalize on the growing interest in memecoins, driven by their unique appeal and active communities.

Conclusion: Don’t miss the benefits

Shiba Inu (SHIB) and Mpeppe (MPEPE) are poised for a profitable August, leveraging their viral potential and strong community support to attract a diverse audience. With the cryptocurrency market in full swing, now is the perfect time to consider investing in these promising memecoins. Just as Shiba Inu (SHIB) captivated the crypto world with its unique appeal, Mpeppe (MPEPE) is poised to make its mark. Don’t miss out on the potential gains these innovative digital assets have to offer.

For more information on the Mpeppe presale (MPEPE):

Visit Mpeppe (MPEPE)

Join us and become a member of the community:

https://t.me/mpeppecoin

https://x.com/mpeppecommunity?s=11&t=hQv3guBuxfglZI-0YOTGuQ

Fuente

Memecoins

Solana down 8% as its coins Dogwifhat, Billy and Neiro fall further

Published

3 months ago

1 August, 2024

TokenTalk Staff

Solana climbs 4% on the back of rising Meme Coins and Alts

Solana, the fifth-largest crypto asset by market cap, has fallen 8% in the past 24 hours, according to CoinGeckolike his Meme Coin Market Prices of some coins, which can be notoriously volatile, have fallen by as much as 43% in the past day.

As the cryptocurrency market bleeds with Bitcoin (Bitcoin) down 2.7% and Ethereum (ETH) 4.2%, Solana (GROUND) was the hardest hit among the top 10 cryptocurrencies, falling 8.2% to $168 on the day, according to data from CoinGecko. Along with this, meme coin Solana suffered huge losses.

The biggest loser in the last 24 hours is the bigger of the two Black (NEIRO) on Solana which fell nearly 44% to $0.01821. These tokens were launched after the owner of Kabosuthe Shiba Inu that inspired the Doge meme, announced that she had adopted a new dog named Neiro. Interestingly, her rival on the network launched an hour beforealso called Black (NEIRO), is up 75.2%. It appears that the Solana Neiro Civil War is far from being decided.

Other big losers include: Pump.fun’s Favorites Billy (BOWL), down 26.4%, and Michi (MICHI), which fell 24.5%. Over the past 24 hours, both tokens have flipped their market caps multiple times, but dog token Billy is currently in the lead with $94 million, about $3 million ahead of Michi.

Dog with hat (Wireless), the largest meme coin on Solana, was also hit, dropping 12.4%. Bonk (BONK), the second-largest Solana meme coin, fell 9.1%. In fact, among the top 50 Solana meme coins by market cap, only four tokens are in the green, with Zoomer (ZOOM IN) leading the pack with 41.1%.

Meme coins are notoriously high-risk assets and tend to post disproportionate losses when the broader market experiences a downturn.

Brain (BRAIN), Michi (MICHI), Mini (MINI), Shark cat (SC), and many others, for example, have suffered greater losses in the last 24 hours than any of the top 100 cryptocurrencies by market capitalization.

In the world of meme coins, when it rains, it rains.

Edited by Stacy Elliott.

Fuente

Memecoins

Trader Says Bitcoin’s Path to $100,000 Is ‘Currently Programmed’, Updates Outlook on Memecoin That’s Up Over 18,000% YTD

Published

3 months ago

1 August, 2024

TokenTalk Staff

Trader Says Bitcoin's Path to $100,000 Is 'Currently Programmed', Updates Outlook on Memecoin That's Up Over 18,000% YTD

A widely followed analyst and trader expresses bullish sentiment on Bitcoin (Bitcoin) while offering his take on the memecoin built on Solana (GROUND) blockchain ecosystem.

Starting with Bitcoin, the analyst known by the pseudonym Altcoin Sherpa tell His 219,000 followers on social media platform X say Bitcoin is on the verge of hitting a six-figure price.

“There will be bumps along the way, but Bitcoin’s path to $100,000 is on schedule. Don’t get rattled or lost along the way.”

Source: Altcoin Sherpa/X

At the time of writing, Bitcoin is trading at $66,236.

According to For the widely followed trader, Bitcoin enjoys strong support between $63,800 and $65,000, where the 25, 55, 89 and 200 exponential moving averages (EMAs) on the daily chart have clustered.

Source: Altcoin Sherpa/X

Next up is the Solana-based memecoin Popcat (POPCAT). The pseudonymous trader and analyst said that among the cat memecoin family, POPCAT is one of the “best” in the long run.

Altcoin Sherpa, however, says POPCAT looks bearish on the short-term four-hour time frame and needs to climb above a range low between $0.694 and $0.724 to avoid falling further.

Source: Altcoin Sherpa/X

POPCAT was trading at $0.00379 on January 5th and is now at $0.704, a gain of approximately 18,475%.

Altcoin Sherpa also offers his take on dogwifhat (Wireless), Solana-based Memecoin. According to For the pseudonymous analyst, WIF “still looks pretty good for now” on the four-hour chart with the “best” support area sitting around $2.10.

“The average would probably be $2.30 to $2.10 if I were you and I was swing trading this one.”

Source: Altcoin Sherpa/X

WIF is trading at $2.27 at the time of writing.

Don’t miss a thing – Subscribe to receive email alerts directly to your inbox

Check Price action

follow us on X, Facebook And Telegram

Surf The Daily Hodl Mix

&nbsp