- Creator of MOTHER memecoin Iggy Azalea has partnered with a significant market maker in the cryptocurrency space.
The controversial Solana-memecoin MOTHER, created by Australian celebrity Iggy Azalea, has announced a strategic cooperation with DWF Labs.
Although there aren’t many specifics regarding Azalea’s agreement with the market maker, DWF Labs stated that more information should be available soon. At the time of publication, Andrei Grachev, the creator of DWF Labs, had not reacted to requests for opinion from crypto.news.
The disclosure of the news was good for MOTHER’s price on Thursday, as the memecoin surged by more than 30% right away. As of writing, though, MOTHER has given back some of the profits because to a persistent decline in the market.
Memes of Azalea’s mother
The popular memecoins introduced by celebrities such as Andrew Tate and Azalea are still making waves in Solana’s thriving economy. When MOTHER initially came out in late May or early June, there was a lot of discussion over whether or not celebrities should ever field tokens.
Reaching a high market capitalization of $150 million, the memecoin attracted a cult-like following of individuals with a background in cryptography who promoted the story on Telegram and X Spaces.
Azalea announced last month that cell plans and smartphones will accept payments with the MOTHER token. A rare development for these currency, which usually have no use case, the move offered utility for the memecoin. Still, according to TradingView, the coin has lost some of its appeal and is now down more than 85% from its peak.
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.
