Iggy Azalea's $MOTHER Memecoin Surges 600%, Hits $60M Market Cap Amid Controversy

Jun 1, 2024, 03:28 PM

Iggy Azalea's new memecoin, $MOTHER, has experienced significant volatility and growth since its launch. Initially overshadowed by allegations of insider trading, the token saw a major rebound, rising 80% overnight and reaching a market cap of $14 million. The surge continued as $MOTHER hit a new all-time high of $60 million, driven by Azalea's engagement with the crypto community and her adoption of a custom Mad Lads profile picture. The token's market cap eventually soared to $80 million, up 320% in 24 hours, and briefly reached $69 million, marking a 15-fold increase in 1.5 days. Despite the initial controversy, $MOTHER has gained substantial traction and visibility, flipping its peer $WIF in 24-hour on-chain volume. The token is up 600% from its lows and is now listed on CoinMarketCap. It has been launched on the Solana blockchain and is approaching a market cap of $100 million.