‘Crypto Is Attractive’: Is Iggy Azalea for Actual?

This week’s movie star meme coin craze took a recent twist late Tuesday when Australian rapper Iggy Azalea—greatest recognized for the hit track “Fancy” a decade in the past—launched her personal Solana meme coin, MOTHER. And the crypto neighborhood broadly seems satisfied that Azalea may be a “actual one” and never simply in it for a fast money seize.

MOTHER has charted huge positive aspects since Azalea tweeted it out on Tuesday, leaping greater than 22,000% to a present value above $0.015 and a market cap topping $15 million. Greater than $150 million price of the Solana-based token has been traded in lower than a day amid a flurry of tweets, retweets, and Twitter Area appearances by the musician.

“Crypto is attractive,” she wrote in a tweet that’s logged greater than 800,000 views since Tuesday night time. She hosted a Twitter Areas with the identical identify that attracted some 382,000 distinctive listeners through the preliminary feeding frenzy.

Azalea’s MOTHER token arrived amid confusion and controversy. Azalea had been linked to crypto promoter Sahil Arora, who helped media character and Olympic gold medalist Caitlyn Jenner launch her personal Solana meme coin earlier this week earlier than Jenner distanced herself from Arora, claiming that he owes her “a number of cash.”

Forward of the MOTHER launch Tuesday, Azalea did a lot the identical, tweeting that she “was involved” with Arora “sufficient to odor he’s a bitch.” Later, she tweeted that no person was “working with” her on the token launch, and added, “Sahil child, take your L and go already.”

Arora allegedly took in roughly $380,000 price of pre-sale funds to launch a token referred to as IGGY that he claimed was for Azalea, nevertheless it has but to be airdropped to individuals who despatched in cash.

Amid the Tuesday night time buying and selling frenzy round MOTHER, Azalea hosted the Areas and spent hours interacting with Crypto Twitter denizens, presenting herself as somebody who was new to constructing within the crypto area however needed to make an enduring affect—to not pump and dump, in different phrases, or shortly money in on her fame earlier than disappearing.

“Studying as I am going, however simply need shit to really be a second in well-liked tradition [and] a map of the best way to do one thing the precise method,” she tweeted early Wednesday.

Even so, there are lingering questions across the MOTHER drop. Azalea has mentioned that she holds 3% of the token provide, however blockchain knowledge startup Bubblemaps found through on-chain knowledge that about 20% of the provision was purchased by “insiders” earlier than she introduced the token—after which offered, netting the holders tens of millions of {dollars}’ price of income.

“In the meantime, as a result of that is my idea/coin—I’m in some way speculated to [bear] duty for what random [people] do with their wallets,” she wrote in a quote-tweet response. “When in actuality, them dumping solely makes it tougher for me to realize my objective of getting a coin that’s really half of popular culture.”

A few of crypto’s greatest personalities appeared to co-sign Azalea’s entry into the area, both sharing fawning tweets about her strategy or giving her the advantage of the doubt amid skepticism—each typically about movie star meme cash, and particularly in relation to the drama round Arora and her obvious efforts to separate herself from the controversial promoter.

“Iggy Azalea probably the most educated movie star coming into this area,” tweeted influencer Mika, a Rug Radio creator. “She is lowkey spitting.”

“She lowkey so legitimate bro,” wrote DeGods mission creator Rohun “Frank” Vora.

Granted, not everybody assumed the perfect from the entertainer. Some doubted her rationalization of the “insider” frontrunning, whereas others pointed to the form of regulatory crackdown seen towards different crypto-promoting celebs (like Kim Kardashian) previously.

MOTHER is down 20% since hitting an all-time excessive value in a single day, however meme cash are famously unstable—and it’s nonetheless sitting on monumental positive aspects because the launch. And Azalea has nonetheless been tweeting all of the whereas, suggesting simply this afternoon she’ll “get up and burn” extra tokens after lastly getting some sleep.

Given the fixed twists and turns round this week’s new movie star cash and the vibe shifts that adopted, we’ll see if the crypto world remains to be embracing Azalea by the point she wakes up and torches a bit extra MOTHER for the meme coin trigger.