- Since receiving criticism from Vitalik Buterin, the founder of Ethereum, MOTHER has more than doubled.
Just ten days after its launch, the market valuation of rapper Iggy Azalea’s MOTHER coin surged past $200 million, further confusing its detractors.
Since June 5, when Ethereum founder Vitalik Buterin expressed dissatisfaction with this cycle of celebrity experimentation, the memecoin has more than doubled in value.
A few hours later, Azalea shared a meme showing herself nursing Buterin, starting a discussion over memecoins and whether or not they are a legitimate use case for blockchain technology.
While some, like as Wintermute creator Evgeny Gaevoy, weren’t persuaded, Uniswap founder Hayden Adams stood up for Buterin.
For early MOTHER holders, the publicity from Crypto Twitter has proven to be beneficial. With today’s pricing, a wallet that paid 1 SOL ($170) for 35 million MOTHER tokens is sitting on unrealized gains of around $3.7 million.
Following a contentious debut on the meme coin portal pump.fun, which was connected to prolific con artist Sahil Arora, Azalea took the lead and used her X account to advertise the token to her 7.6 million followers.
Additionally, she has been actively interacting with community members in the MOTHER Telegram channel, and she says she has hired a well-known cryptocurrency law company to assist with compliance-related matters.
Although it’s too soon to say if MOTHER will “break into sustainable value creation,” Azalea’s efforts are being praised by a large portion of the cryptocurrency community.
Prominent crypto trader Ansem claimed that Iggy was a better bull poster than 99 percent of crypto Twitter users.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
