Memecoins
Iggy Azalea’s Meme Coin is Three Times Bigger than Andrew Tate’s
In 2021, it seemed like every celebrity was getting involved in the cryptocurrency industry through non-fungible tokens.
The Bored Ape Yacht Club (BAYC) and CryptoPunks were the hottest collections, and mega stars like Eminem and Justin Bieber (to name a few) were rocking NFTs as profile pictures on Twitter (now X).
Three years later, it seems that several celebrities are now returning to crypto, this time via meme coins.
Iggy Azalea’s MOTHER Coin
At the end of May, Australian model and rapper – Iggy Azalea – announced her own cryptocurrency.
Checked MOTHER, the token rallied, hitting an all-time high of around $0.27, putting it at a market cap of almost $300 million. Currently, it trades at a market cap of around $150 million.
The coin was surrounded by controversy and caught the attention of Ethereum co-founder Vitalik Buterin. Sharing his thoughts on this and the wider celebrity coin trend, he said:
I’m feeling pretty unhappy with the “celebrity experimentation in this cycle” so far. […] Ashton and Mila’s Stoner Cats was far more honorable than anything we’ve seen from this 2024 celebrity coin-op era — at least an actual show was funded.
Responding mockingly to this statement, Azalea said that “he was just hungry.” assignment yet another meme.
Andrew Tate’s play
Some time ago, Andrew Tate said:
I will never start crypto, I just like ***crypto Twitter. Because crypto Twitter is full of the biggest degenerate losers on the planet.
Plot twist: he actually started his own cryptography. Ticked RNT and riding the trend of offensive abbreviations a few days ago, RNT came into existence a few days ago and is currently trading at a market cap of around $50 million.
Besides RNT, several other cryptocurrencies have been created, while Tate commented:
“A lot of people are asking me about all this chaos I’ve created in the crypto markets as I try to take down Solana. Millions of tweets were posted today because of me and my stupid tweets, I made a complete disaster. I’m sure some people have made millions of dollars from me…”