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Iggy Azalea Relaunches Telecom Company with $MOTHER Token, Solana Memecoin Market Surges to $200 Million

Jun 10, 2024, 08:59 AM

Australian rapper Iggy Azalea has announced the relaunch of her telecommunication company, allowing customers to purchase phones and month-to-month cell plans using her memecoin, $MOTHER, or Solana (SOL). The $MOTHER token, which launched just over a week ago, has reached a market cap of $200 million, making sudden millionaires of some of its holders. The token has seen a 25% increase in the last 24 hours, currently standing at a $182 million market cap. This development is part of a broader memecoin frenzy that has reignited interest in the crypto market, with Solana-based memecoins gaining significant traction. The memecoin market is drawing comparisons to the NFT boom of 2020, with users investing in these digital assets for both financial gains and entertainment.