'Crypto Is Sexy': Is Iggy Azalea for Real?

This week’s celeb meme coin craze took a peculiar twist unhurried Tuesday when Australian rapper Iggy Azalea—finest identified for the hit song “Cherish” a decade ago—launched her grasp Solana meme coin, MOTHER. And the crypto community broadly appears ecstatic that Azalea would perchance maybe maybe also very properly be a “proper one” and no longer accurate in it for a transient cash take.

MOTHER has charted huge gains since Azalea tweeted it out on Tuesday, leaping extra than 22,000% to a most modern tag above $0.015 and a market cap topping $15 million. Bigger than $150 million rate of the Solana-based completely mostly token has been traded in no longer as a lot as a day amid a flurry of tweets, retweets, and Twitter Field appearances by the musician.

“Crypto is fascinating,” she wrote in a tweet that’s logged extra than 800,000 views since Tuesday evening. She hosted a Twitter Areas with the the same title that attracted some 382,000 weird and wonderful listeners all the blueprint in the course of the initial 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 grasp Solana meme coin earlier this week forward of Jenner distanced herself from Arora, claiming that he owes her “hundreds money.”

Ahead of the MOTHER launch Tuesday, Azalea did grand the the same, tweeting that she “changed into in contact” with Arora “ample to scent he’s a bitch.” Later, she tweeted that no person changed into “working with” her on the token launch, and added, “Sahil infant, take your L and lumber already.”

Arora allegedly took in roughly $380,000 rate of pre-sale funds to launch a token known as IGGY that he claimed changed into for Azalea, nonetheless it has but to be airdropped to other folks who despatched in money.

Amid the Tuesday evening trading frenzy round MOTHER, Azalea hosted the Areas and spent hours interacting with Crypto Twitter denizens, presenting herself as somebody who changed into fresh to building in the crypto residence nonetheless wanted to build a permanent affect—to no longer pump and dump, in completely different phrases, or swiftly income on her reputation forward of disappearing.

“Studying as I lumber, nonetheless accurate desire shit to genuinely be a moment in well-liked custom [and] a diagram of the very most sensible procedure to pause one thing the magnificent manner,” she tweeted early Wednesday.

Even so, there are lingering questions accurate in the course of the MOTHER drop. Azalea has acknowledged that she holds 3% of the token offer, nonetheless blockchain recordsdata startup Bubblemaps came upon by the employ of on-chain recordsdata that about 20% of the provision changed into bought by “insiders” forward of she introduced the token—and then bought, netting the holders hundreds and hundreds of greenbacks’ rate of profits.

“Meanwhile, on yarn of right here is my belief/coin—I’m by some capability supposed to [bear] responsibility for what random [people] pause with their wallets,” she wrote in a quote-tweet response. “When in actuality, them dumping finest makes it harder for me to pause my function of getting a coin that is genuinely a part of pop custom.”

Some of crypto’s ideal personalities regarded to co-signal Azalea’s entry into the residence, both sharing fawning tweets about her manner or giving her the income of the doubt amid skepticism—every in most cases about celeb meme coins, and specifically when it comes to the drama round Arora and her apparent efforts to separate herself from the controversial promoter.

“Iggy Azalea basically the most educated celeb coming into this residence,” tweeted influencer Mika, a Rug Radio creator. “She is lowkey spitting.”

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

Granted, no longer all americans assumed the very most sensible from the entertainer. Some doubted her clarification of the “insider” frontrunning, whereas others pointed to the roughly regulatory crackdown seen against completely different crypto-promoting celebs (love Kim Kardashian) in the previous.

MOTHER is down 20% since hitting an all-time high tag in a single day, nonetheless meme coins are famously unstable—and it’s aloof sitting on huge gains since the launch. And Azalea has aloof been tweeting the total whereas, suggesting accurate this afternoon she’ll “wake up and burn” extra tokens after sooner or later getting some sleep.

Given the constant twists and turns round this week’s fresh celeb coins and the vibe shifts that followed, we’ll witness if the crypto world is aloof embracing Azalea by the time she wakes up and torches somewhat extra MOTHER for the meme coin reason.