Hi everyone, I'm asking because I've witnessed a memecoin named MOTHER, which is backed by Iggy Azalea, go from a $100k market cap to over $100M in less than 7 days, with the potential to even hit $1B, in my opinion. That's amazing and electric if you ask me.
Did you follow this meme coin? What's your opinion on it, and do you think we'll see more memecoins backed by celebrities?
And dumped from $100M under $30M in days...
If such a token would hit to $1B and dumped from there, Iggy Azalea would go to jail for promoting it. Just like rest of celebrities backing their high marketcap memecoins. But most likely this stays a lowcap and she gets away without a scratch.
Edit: i googled it and guess what. She is already being investigated for inside trading. Funny how it always happens with these people. They never learn.
https://cryptopotato.com/andrew-tate-and-iggy-azalea-accused-of-insider-trading-in-meme-coin-promotions/But go ahead, trade with meme, or celebrity tokens. At least meme characters won't get sued.