Rapper Iggy Azalea’s MOTHER token on Solana saw a spark of trading demand over the weekend, surging to an all-time high price on Saturday—just days after it launched. And the musician, who has been broadly embraced by Crypto Twitter, continued her constant tweeting with a familiar-looking profile picture (PFP) in tow.
Azalea started rocking a custom Mad Lads PFP on Friday, one day after the Solana project tweeted out a custom honorary avatar for her that was apparently based on a photo reference. Mad Lads is the most valuable Solana NFT collection by a wide margin, currently standing at over $10,300 worth of SOL on secondary marketplaces.
One day after equipping the PFP, Azalea’s MOTHER token jumped to a new peak price of $0.08952, per data from CoinMarketCap, giving it a market cap of $88.7 million.
The price fell by nearly half by Sunday night, but then rebounded again on Monday, nearly matching the previous peak before starting to dip again. As of this writing, MOTHER sits at a price above $0.72, giving it a market cap over $70 million. It’s up 34% on the day.
The rapper’s crypto market entrance last week was marked by drama. She launched the token after controversial crypto promoter Sahil Arora—who had helped deploy Caitlin Jenner’s meme coin earlier in the week—teased an IGGY token and collected $380,000 worth of presale funds for a token that ultimately had nothing to do with her.
Azalea said that ultimately she decided not to work with Arora, and tweeted at him publicly to “take your L and go already.” Azalea was widely praised by traders on Twitter for being so heavily engaged and admitting that she was learning as she went, promising that the meme coin wouldn’t be a simple cash grab or pump-and-dump.
Nearly a week later, she’s still in the arena (of Crypto Twitter), spreading memes and rocking a custom PFP as her token again flirts with higher gains.
Daily Debrief Newsletter
Start every day with the top news stories right now, plus original features, a podcast, videos and more.
Source: https://decrypt.co/233633/iggy-azalea-solana-mad-lads-pfp-mother-nears-90-million
