Iggy Azalea’s MOTHER Token Soars 30% After Utility Announcement

Iggy Azalea’s newly launched cryptocurrency, the Mom Iggy (MOTHER) token, has skilled one other dramatic surge following a stunning announcement about its real-world utility.

Azalea took to the social media platform X on June 9 to share the thrilling information: “Tomorrow, I’m lastly relaunching the telecommunication firm I co-founded, and it is possible for you to to buy telephones or month-to-month cell plans utilizing MOTHER or Sol.” This announcement ignited quick curiosity within the MOTHER token, driving its worth up by over 30% inside 24 hours, in accordance with L3B7 knowledge. MOTHER is at the moment buying and selling at $0.1631, and is down 17.3% prior to now 24 hours amid a wider market selloff. Nonetheless, the token has gained 120% prior to now week.

Azalea additionally hinted at a forthcoming promoting marketing campaign for the telecom firm’s relaunch, set to start this week. This marketing campaign is anticipated to generate further social media buzz and probably additional increase the memecoin’s worth. By linking the token to real-world services, Azalea is making an attempt to bridge the hole between digital currencies and on a regular basis shopper transactions.

Regardless of the numerous intraday surge of the MOTHER token, the broader marketplace for meme tokens stays largely unaffected. In response to L3B7 knowledge, the full buying and selling quantity of meme tokens fell by over 12.8% to $5.46 billion prior to now 24 hours, indicating a basic hunch in curiosity. A number of well-liked memecoins have skilled notable losses over the previous week. The Pepe (PEPE) token dropped 17%, Bonk (BONK) fell over 20%, and Guide of Meme (BOME) additionally decreased by greater than 20% throughout the identical interval.

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