After returning to the limelight with her headline-grabbing meme coin, Australian rapper Iggy Azalea now insists that she is no rug-puller in a recent interview with Fortune.
In fact, she wants to find potential use cases for her viral Mother Iggy (MOTHER) cryptocurrency that could make it viable in the long term.
Azalea intends to turn the memecoin into a stablecoin, according to her Fortune interview.
The Australian rapper, who became the ultimate it-girl of 2014 with her smash hit "Fancy" and other highly successful singles, claims that she had been casually observing crypto since 2020 before eventually launching her own coin. Azalea was forced to act after a fraudster was trying to push another meme coin by impersonating her.
Alex DovbnyaThe MOTHER meme coin, which was launched in late May, generated plenty of buzz because of its massive gains and Azalea's frequent social media posts that ranged from raunchy pictures to hilarious memes.
On Thursday, the market cap of Solana-based MOTHER surged to nearly $250 million after a whale snapped up a large number of tokens.
However, despite all the hype, Iggy Azalea's token lacks any value proposition like most meme coins. Unsurprisingly, the cryptocurrency has already attracted plenty of detractors, including none other than Ethereum co-founder Vitalik Buterin.
As reported by U.Today, Buterin lambasted the new crop of celebrity meme coins due to their lack of utility, prompting a swift response from Azalea in the form of a belittling meme.
However, Azalea is seemingly unfazed by all the criticism, arguing that peace is not profitable for meme coins and telling haters to get out of her way.
Arman Shirinyan
Vladislav Sopov
Dan Burgin
U.Today Editorial Team