Traders Facing the Moment as Iggy Azalea’s MOTHER Token Surpasses $100 Million Market Cap

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

The official symbolic image of MOTHER seen on CoinGecko is one of Iggy Azalea’s thirst traps, a common slang phrase that refers to images aimed at sexually arousing viewers.

(Shutterstock/Debby Wong)

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

Some traders addressed the situation in light of MOTHER, the token used by Australian rapper Iggy Azalea and her team, which surpassed a market capitalization of $100 million on Wednesday. The Solana-based cryptocurrency, which was rolled out just last week, has reached a market capitalization of $108 million.

“Coping” refers to a person dealing with the missed opportunity of not purchasing an asset, a consequence of resisting the fear of missing out, or securing some profits too early before gigantic percentage rises.

MOTHER’s price action has consistently made higher lows since its low on May 31st. (DexTools)

After MOTHER’s initial dip to fractions of a cent that lasted until the last day of May, the token has since risen to highs of 11 cents, up more than 2,260%, according to data by CoinGecko.

A social media post from a crypto user getting away with it. (X)

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

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

In contrast, TREMPa native Solana memecoin inspired by the misspelling of likely Republican presidential candidate Donald Trump, has a slightly larger market cap of over $150 million and over $3 million in liquidity arising from four SOL pools, but has less than half the 24-hour trading volume: $1.1 million, also on Orca.

Azalea goes cryptocurrency native

Since releasing her token, some cryptocurrency users have noticed that Azalea shows greater dedication to the crypto ecosystem than her famous peers. From joining Twitter spaces for hours to using Telegram to posting memes, “Iggy is hustling and showing a dedication to being a part of this space,” he wrote an X user with the handle, @Kev4Evaa.

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

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

By using a Mad Lads NFT as a profile picture, Azalea can use the NFT community for “business development needs” and consulting to navigate the space, Kev4Evaa indicated.

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

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