Coin Price MOTHER Soars, the Crypto Community Even Makes a Fuss

Bittime - The crypto world has been enlivened again by the presence of the controversial meme coin, MOTHER, which carries the name of rapper Iggy Azalea. MOTHER managed to set a record high price (ATH) on Thursday 06/06/2024 yesterday. This price spike was followed by a heated debate about the role of celebrities in crypto.

MOTHER's Market Cap Reaches IDR 3.2 Trillion

In just a week after launch, MOTHER managed to reach a market capitalization of IDR 3.2 trillion (US$200 million). This price increase created many "immediate millionaires" thanks to profits of up to 90% in a day. Azalea is aggressively promoting MOTHER through her X platform which is followed by 8 million people.

MOTHER shot to the top of the ranks of Solana meme coins. Anyone can now easily create a meme token, and in MOTHER's case, the creator chose a photo of Azalea's back as the "fuel" for the joke.

MOTHER Made at Pump.Fun

MOTHER was born from the meme coin platform Pump.Fun, which is thought to be responsible for flooding Solana with hundreds of thousands of new tokens. MOTHER buyers at Pump.Fun who survive now enjoy fantastic profits.

Like most meme coins, MOTHER has absolutely no intrinsic value. Ownership of MOTHER confers no benefits or voting rights. MOTHER's value is purely driven by the speculation of crypto traders.

Criticized by Vitalik Buterin and Crypto Figures

MOTHER's popularity has received criticism from crypto figures such as Vitalik Buterin (founder of Ethereum) who criticized celebrity coins that only prioritize financial gain. Azalea responded to this criticism with a sarcastic tone.

Azalea's attitude was criticized by Hayden Adams (creator of Uniswap) who assessed that Azalea was harassing important crypto figures and not using her involvement for better purposes.

MOTHER's presence sparked a fundamental debate about the essence of crypto. Initially MOTHER was just a joke worth millions of dollars, but now it has become a philosophical debate about the future of crypto.

MOTHER Risk

Even though it is on the rise, MOTHER is considered to have a higher risk than ordinary meme coins because of its ties to celebrities. Azalea could lose interest, make detrimental tweets, or face legal issues, all of which could impact MOTHER's price.

Azalea's vigorous promotion at X plays an important role in maintaining the momentum of MOTHER's price increase. He even changed his profile photo to NFT Mad Lads, the most expensive digital collection on Solana.

Conclusion

Experts assess that MOTHER's appeal lies in Azalea's seriousness in promoting it. However, many questions regarding MOTHER's future remain unanswered. Will Azalea survive? Will the community remain supportive? Can MOTHER be more than just an expensive joke?

Time will answer that question. To be sure, MOTHER has sparked new debate about the role of celebrity, the value of speculation and the future of digital money.

How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.

To be able to buy crypto assets at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.

Study Complete Guide How to Buy Crypto on Bittime.

Monitor graphic movement Bitcoin (BTC) price, Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.