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MOTHER (Memecoin)

MOTHER is a launched by the Australian rapper Iggy Azalea on May 28, 2024. [1]

Overview

This memecoin joins a wave of celebrities releasing tokens on the Solana . MOTHER charted gains since Azalea tweeted it out and jumped to an all-time high of  $0.02565 on May 29, 2024. [2]

"Crypto is sexy" - the artist tweeted[3]

Azalea hosted a Spaces on Tuesday night, 29th May, and spent hours interacting with Twitter denizens, presenting herself as someone new to building in the crypto space but wanting to make a lasting impact. [4]

She also mentioned a charity initiative for the $MOTHER memecoin on the vaccination of Koalas from Chlamydia. [1][4]

Some of crypto’s big personalities appeared to co-sign Azalea’s entry into the space.

“She lowkey so valid bro,” wrote project creator . [2]

Controversy

The launch was overshadowed by allegations of significant insider trading activity. According to the blockchain analytics platform , an insider with an account starting with “JEET” sold about 10% of the coin’s total supply on May 29, 2024. Most of these tokens were quickly sold on the market. The insider reportedly acquired over 109 million MOTHER tokens through an over-the-counter deal. Bubblemaps also highlighted that over 20% of the total supply was bought by insiders directly from the launch team, with more than $2 million worth already sold by the time of their post. [3]

Iggy quoted the report by Bubblemaps saying:

"Meanwhile, because this is my concept/coin - I’m somehow supposed to bare responsibility for what random ppl do with their wallets. When in reality them dumping only makes it harder for me to achieve my goal of is having a coin that is actually part of pop culture[6]

$MOTHER as a Utility Coin

On June 7, 2024, the team announced the launch of a MOTHER merchandise store[7]. A while later, founder of the coin, Iggy Azalea tweeted:

“Tomorrow I’m finally relaunching the telecommunication company I co-founded and you will be able to purchase phones, or month-to-month cell plans using $MOTHER or Sol. Ad campaign n rollout to follow late this week.” - she wrote on X on June 9, 2024.

In a follow-up tweet, she said Unreal Mobile is a service provider for the phones and that there would be “a selection of phones for purchase if needed.”[9] The payment infrastructure will be handled by Sphere Labs, which did not offer a native token yet. MOTHER token holders may soon use the cryptocurrency to purchase phones and monthly cell plans from the telecommunications company. [8]

On June 11, 2024, the Unreal Mobile website went live and the payment option for $MOTHER as a checkout currency was added.

The NEW Unreal Mobile site is live now & as promised in addition to standard $ payments we have added crypto (including $MOTHER of course) as a checkout option. - the artist tweeted[10]

See something wrong? Report to us.

MOTHER (Memecoin)

Commit Info

Edited By

Edited On

June 17, 2024

Reason for edit:

added update on Unreal site going live with Mother as a payment option

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