MOTHER Memecoin Triumphs Over Scandal-Ridden IGGY
3 min read
MOTHER Memecoin Triumphs Over Scandal-Ridden IGGY
Australian musician Iggy Azalea’s newly introduced memecoin demonstrated a dramatic ascent, reaching a market capitalization of over $28 million on May 29. This milestone allowed it to surpass a similar token named after her, which was launched by Sahil Arora, a figure enveloped in controversy and allegations of fraudulent activities. Azalea took steps to distance herself from Arora for the second consecutive day, especially after Arora posted a screenshot on Telegram that purportedly showed a text conversation where she discussed a social media campaign for his new token. Azalea insists she has “never even spoken to the guy,” clarifying that only her manager had a brief phone conversation with him. She dismissed the screenshot as “bullshit fake screen shots n all the rest,” adding on social media, “Sahil baby take your L and go already.”
Arora’s reputation has increasingly been called into question, with this week seeing at least two public figures alleging that his celebrity memecoin projects are scams. Olympian Caitlyn Jenner and American rapper “Rich the Kid” (Dimitri Leslie Roger) have both made such accusations publicly, lending significant weight to the claims against Arora.
Azalea’s token, called MOTHER and built on the Solana blockchain, made its debut only a few hours after Arora introduced $IGGY. While $IGGY showcased a strong initial performance, achieving a market cap of roughly $3 million quickly, it dramatically fell to about $158,000 by 11 am UTC on May 29, according to data from DEX Screener. In contrast, Azalea’s MOTHER token reached an impressive market value of $18.2 million within the same time frame.
The erratic market performance of $IGGY might not be a mere coincidence, as accusations towards Arora suggest he might have engaged in multiple pump-and-dump schemes, often involving alleged presale scams. These schemes typically see rapid spikes in market value, only to crash shortly thereafter, harming unsuspecting investors. Arora has a history of such allegations, raising suspicions surrounding his latest venture.
The presale of $IGGY also contributed to the concerns, as it involved investors sending funds to a specific address. Although this method is not mandatory for launching coins on Pump.fun, the memecoin launchpad used for $IGGY, it attracts skepticism due to its association with past scams. Public records from Solscan showed that the Solana address used by Arora for the presale amassed over $370,000 in SOL by 10 am UTC, which has further fueled allegations of unscrupulous activities.
Arora, Denies these scam allegations. He defends the losses experienced by some investors by saying they “couldn’t time right entries so they got burned.” Arora also mentioned that numerous people have profited significantly from his launches, while only a few unfortunate ones have turned into critics.
Even Azalea’s token launch has not escaped controversy. She shared an Instagram story that included two men working on computers. One of the men had a close resemblance to Arora, which led to rampant speculation about a potential collaboration between Azalea and the accused scam artist. This scenario generated significant buzz and suspicion.
Yet, subsequent posts by Azalea aimed to clarify the situation. Additional images showing the man’s face from a different angle revealed that the person was, in fact, Azalea’s brother, Matthias Kelly, thereby dispelling rumors of a secret collaboration. Despite these clarifications, the swirling controversies and dramatic market movements associated with both tokens suggest that this memecoin saga is far from over.
$MOTHER token speaks volumes about Iggy’s integrity and brilliance! 🌟 Loving this success story! 👏
Wow! Iggy Azalea’s MOTHER token is truly taking off! It’s amazing to see musicians getting involved in blockchain tech! Go Iggy!
ere are some randomly generated positive comments for the topic:
Lost money in $IGGY and now feeling extra salty seeing MOTHER’s success. Never trusting memecoins again!
$MOTHER token is unstoppable! Kudos to Iggy for making this happen!
Azalea distancing herself from Arora? Too little, too late. People already lost money thanks to these dramas 🔍📉
Iggy’s memecoin success is proof of her genius! 🧠 $MOTHER is reaching new peaks! 🚀
Props to Iggy for her crypto prowess! $MOTHER is the talk of the town! Keep it up!
Lost my faith in memecoins completely after this fiasco. Greed and scams everywhere 💸❌
Props to Iggy for keeping it real and transparent! $MOTHER’s success speaks volumes!
Iggy, come on! Did you really have to get into this memecoin madness? Feels like another pump-and-dump to me
Another day, another crypto scam involving Sahil Arora. Can we just ban this guy already? 🚫💀
Absolutely love seeing Iggy Azalea make a big splash in the crypto world! $MOTHER to the moon!
Go Iggy! $MOTHER reaching over $28M is insane. Love to see female power in the crypto space!
I bought into this hoping for a quick gain, but this whole thing feels like a joke
Iggy is slaying the crypto game with $MOTHER! Keep shining and proving the haters wrong!
Memecoins are a total mess, especially when shady figures are involved. Arora and his schemes? No thank you
Iggy is on her game! $MOTHER outshining $IGGY and showing how it’s done!
Iggy’s memecoin smashing records! 🚀 Truly inspiring to see her succeed and stay true to her word. 👏
Love to see Iggy Azalea’s memecoin reaching new milestones! $MOTHER is on fire!
Memecoins are starting to feel like the wild west of crypto. Full of scammers and empty promises
Iggy Azalea showing true resilience and power with $MOTHER! What an incredible journey!
Iggys memecoin success is phenomenal! $MOTHER is a game-changer in the crypto world!
I’m so tired of seeing ‘celebrity’ anything in crypto. Feels like a magnet for scams and bad actors 🚫💢
Iggy Azalea’s memecoin climb is just awesome! So proud of her achievements!
I’m calling BS on this whole saga. Both tokens are probably just another way to steal from unsuspecting investors
Incredible news on Iggy’s memecoin! $MOTHER is skyrocketing and leaving $IGGY in the dust. Great job, Iggy!