Iggy Azalea
#MOTHER Token Skyrockets 27% After Major Announcement
Australian rapper Iggy Azalea and her cryptocurrency venture, the Mother Iggy (MOTHER) token, have garnered significant attention in the crypto industry due to its rapid popularity and a more than 140% spike in its first week of trading.
However, after its initial surge, the token experienced a substantial price correction, leading to a decline from its record price of $0.2490, reached on June 6. On Friday, the token retraced to as low as $0.1155 after reaching its record high.
In a recent social media post on Sunday, Iggy Azalea revealed plans to revive a co-founded telecommunications company, triggering a 27% surge in the MOTHER token’s price and potentially signaling a continuation of the recent uptrend.
Iggy Azalea MOTHER Tokens Accepted For Phone Purchases
In her social media post, Azalea revealed plans to resurrect a co-founded telecommunications company, allowing MOTHER and Solana (SOL) token holders to utilize their tokens for purchasing phones or monthly cell plans.
Azalea also revealed that technology company Sphere Labs will handle the payment infrastructure for these transactions, while Unreal Mobile will provide the phone services.
Azalea mentioned that users will have access to a selection of phones for purchase. She also revealed that the company will have an advertising campaign and a launch later this week. Azalea further stated:
Roll out campaign and advertising, etc. all begin and continue throughout the week so you’ll see me posting more of that. But don’t forget this is just a convenient side mission for me and not my main vision for what will drive mother.
From Scam Threat To Crypto Vision
According to a report from Fortune Magazine, the launch of Mother Iggy’s token was accidental and strategic. Azalea took action after discovering a scammer on Telegram using her name to launch a memecoin. Determined to combat this fraudulent activity, she launched her token within a shorter time frame.