Iggy Azalea’s $MOTHER Memecoin on Solana Hits $117M Market Cap, $0.11 Amid Criticism

Jun 5, 2024, 03:41 AM

Rapper Iggy Azalea’s memecoin, $MOTHER, launched on the Solana blockchain, has experienced a significant surge in trading demand, reaching an all-time high of $0.11 and a market cap of $117 million within days of its launch. The token's rapid ascent has attracted attention, with notable milestones including an all-time high of $0.08952 over the weekend and surpassing a $100 million market cap. Azalea has embraced the Solana community, adopting a Mad Lads PFP. Despite the enthusiasm, Ethereum co-founder Vitalik Buterin has criticized the trend of celebrity-driven memecoins, suggesting that they should support meaningful causes and aim for long-term impact.