Iggy Azalea is the latest celebrity to join the Solana meme coin bandwagon, and MOTHER token has already made waves.
This article will provide an analysis of MOTHER’s current price trends and look to see whether an innovative new meme coin, PlayDoge, represents a more promising investment opportunity at this time.
MOTHER token appears to be the latest in a trend of celebrity-launched tokens, which have now gravitated to Solana meme coin markets – a veritable hub of meme coin trading in recent months.
I’ll just leave this here…$JENNER $MOTHER pic.twitter.com/hgkUw4wTu5
— Crypto Banter (@crypto_banter) May 30, 2024
Yet, with many of the leading celebrity tokens crashed and burned and legal liability an increasingly significant risk for those promoting baseless cryptocurrencies – it remains to be seen whether Iggy Azalea will be subject to regulator attention.
MOTHER Price Analysis: Izzy Azalea’s New Mother Token Seems Set to Crash and Burn – Is This Other Token Better?
At the time of writing, MOTHER price is currently fighting to survive a tumultuous retracement move, with Iggy Azalea’s token currently trading at a market price of $0.00777 (representing a 24-hour change of -57%).
This comes after MOTHER price hammered down from a quick-fire all-time high at $0.032, which was hit within 6-hours of launch in typical pump and dump fashion.
The hours since have slowed as panicked Azalea fans and holders cleansed their hands of the turbulent bag in a continual sell-off.
Buy pressure reflects this sentiment, with the order book revealing that bears have taken hold – representing 52% of transactions in the past 6 hours.
With the capitulative performance of similar celebrity tokens painting a bleak outlook, there could be blood in the water for 12.5k remaining holders.
Yet, despite allegations of dumping activity by insiders, bulls are attempting to cement a foothold above lower support at $0.006, yet, fresh capital remains deterred by the mountain of holders seeking an exit and the meager risk:reward incentive of a $7.5m market cap.
So, while Iggy Azalea joins the ranks of the many fleeting celebrities desperate to capitalize on their fading fame with her latest scam coin, let’s examine a serious value proposition – beyond ripping-off your fanbase for quick cash.
Unhinged Growth Set For PlayDoge Presale: Here’s How Tamagotchi-Style GameFi Will Dominate Summer Meme Coins
As GameFi tokens continue to promise one of the largest bull run returns in the year ahead, a new Tamagotchi style Doge game is unlocking unhinged success at presale.
So far, PlayDoge’s PLAY presale has seen viral success, with the emerging GameFi project tantalizing gamers and investors alike with an alluring play-2-earn gaming mechanism.
The idea is clearly a hit with retail investors, as the presale has already surged to a magnificent $441k raised in just 48-hours.
Active players will receive and care for the 8-bit pixel digital Doge pets and PLAY tokens as a reward.
PLAY has utility since it can be staked, cashed out, or even used to purchase other in-game items.
Those who choose to stake PLAY will receive a 1,000% APY, but the yield, as expected, will drop as more tokens are locked in.
Analysts are betting big on PLAY, expecting the token to surge 10X after launch.
Buy PLAY Here
The post Iggy Azalea’s MOTHER Token Shoots Up 230x Hours After Launch – Is PlayDoge the Next to Explode? appeared first on Cryptonews.