What's Your Take on Celebrities Backing Memecoins?

[Phoenixtrader]

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?

[Charles-Tim]

Pump and dump still continues. The coins or tokens or meme coins or whatever you call it are only created by the celebrities to make money and nothing more than that. The celebrities do not care about people to make money. If they (the celebrities) are making money while the people that bought the coin are losing money, the celebrities do not care. As this is becoming common, I am expecting more people to lose money. They have only modified ponzi and other hyip schemes into this.

[goldkingcoiner]

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?

They all get paid to shill. Don't be fooled.

I do not recommended investing into anything that is being shilled by people who sell themselves for a living.

[MAAManda]

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?

No, I don't follow this token, I also just heard about it now and immediately made research. I don't think this token is a good token, based on my search, this token was bought by insiders first before it was officially announced.

For long term investment, it's not very good & not recommended to buy tokens with backers like real world entertainment figures, they don't have any knowledge about blockchain & crypto as a whole, they only have a fan base that they can use to deceive many people in the crypto public.

[jrrsparkles]

Celebrities are nothing but paid shillers, they do advertising even to sell as long as someone is paying them to do the money they demand. You can find some of the celebrities living with their principles will not be interested in these kind of money making but there are different kinds of people everywhere so you should never just buy anything because someone is famous saying it's great, only invest if you did your research and convinced that it's okay to take the chance.

[electronicash]

why is it that users only post something like this when something is too late to get in already? if we just knew a celeb was backing a memecoin, we could have been making money as well. i wouldn't mind whoever the celebs are or whatever they do as long as they are popular.

I guess this is it? https://coinmarketcap.com/currencies/mother-iggy/ Mother Iggy (MOTHER) its named after her. no wonder he supported it. she must be the one dumping it on her fans.

[avikz]

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?

Celebrities also have all rights to make money. That's why you will probably be seeing an increase in such coins with celebrity backing. But it doesn't mean anything. A memecoin doesn't bring any utilities on the table just because it is backed and promoted by a celebrity.

Consider a memecoin as a memecoin. Research well on when to book profit and come out of a memecoin investment. These coins have only one goal - make money by keeping your timing right.

[batang_bitcoin]

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?

I don't follow them but I am not fond of seeing tokens backed or advertised by celebrities and that's why I am careful with them. But if you want to ride the train with them, you're free to do so because they are there to make money as well. Why not just make money together with them while the market is very good as of this moment, right? But even with that, you have to be very careful with what they advertise because there has been a history of projects that are advertised by celebrities and it tends out to be a scam.

[abel1337]

I'm a memecoin/shitcoin hater before but I actually learned how to use it on the way that I can profit with it. I learned from my mistakes backthen on not giving up much thoughts about memecoins which made many people millionaires that's why I treat memecoins as a short term token more like a money machine. Celebrity shillers are part of meme coin marketing, as long as I entered before the celebrities shill the coins, I'm all good because I'm speculating that the coin will have many buy orders which means profit. Memecoins are risky and understanding it can bring you a good profit.

[justdimin]

Celebrities also have all rights to make money. That's why you will probably be seeing an increase in such coins with celebrity backing. But it doesn't mean anything. A memecoin doesn't bring any utilities on the table just because it is backed and promoted by a celebrity.

Consider a memecoin as a memecoin. Research well on when to book profit and come out of a memecoin investment. These coins have only one goal - make money by keeping your timing right.

Making money isn't the same as just promoting stuff you do not know about. If you are given 10 million dollars to promote Pepsi, that's fine, you go buy a pepsi drink and say if you are willing to do it or not. However, if you are promoting a token, you do not know the future of that token and I feel like you are going to make a lot of people lose a lot of money, and that is why it would not be all that reasonable to have that kind of result, it's really not that smart.

I feel like we are going to have some trouble, and we should probably end up avoiding it as much as we possibly could, just for better result. I think the best way to do this would be just having a better understanding of legal situation, and see if celebs get into any trouble for it.

[EarnOnVictor]

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?

Thank you for bringing this on board, it's indeed concerning. As we know it, memes are for momentary expression, they have wider meaning and impacts in the crypto world, so there is no issue with memes themselves. But for the aggressive ways developers and brains behind the mem projects at large are taking it now, one has to be careful, the desperation is getting higher. Although anything can work or fail in the crypto world, that's the cryptocurrency world for you, which is why we should do our due diligence research.

However, the project that has moved from $100k to $100M may not fail again, it will enter its launch stage. But after that, who knows if it is a rug pull? We can't trust anything 100% especially if they are being advertised at unusual places or influencers are now taking it so seriously. They could have been paid, do you now think that those who paid many outlets to achieve such popularity will not find means to make their huge money? That is the issue, but it is not particularly true as they may have their good plans beyond that.

Nevertheless, it's just a concern we are showing, it may not necessarily happen. As for me, I will be very careful about this one and see how things unfold over time.

[bluebit25]

(...)Did you follow this meme coin? What's your opinion on it, and do you think we'll see more memecoins backed by celebrities?

I knew about it on some social media, but honestly I had no intention of buying it looking for profit opportunities.

Basically for memecoin it's simply a process of hype and FOMO coming from everyone, and the volatile pump/dump story is both an opportunity/risk for everyone but the risk ratio is always higher. For influencers, please understand that many people take advantage of influence to attract ignorant people and only talk about profit opportunities , and inherently even if you lose money, they have no loss either way, we are playing a game about greed.

[btc78]

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.

Lol what does Iggy Azalea know anything about cryptocurrency? I think celebrities backing up memecoins are just mainly for popularity which is what really memecoins are about anyway. If a memecoin is promoted by a really popular celebrity then most likely it can get more attention but in terms of utility of the project and its credibility being associated with a celebrity…. It’s not a good idea in my opinion.

But if all you care about is making money then a project that is backed by a celebrity can definitely make you money.

do you think we'll see more memecoins backed by celebrities?

Definitely. These celebrities are also just looking for money so whoever pays them, they’ll just go ahead and promote it. Once it starts, more celebrities will follow. Celebrities just follow trends aimlessly.

[Sayeds56]

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?

It is true that meme coins like MOTHER can experience fast and substantial price movements when they are backed by celebrates, their endorsement can significantly attract the attention of their fans.

In summary, the rise of MOTHER token is a notable development and it reflects the powerful influence of celebrities like Iggy Azlea in the crypto space, but it is essential to approach such investments with caution as such coins are not backed by any real life use case.

[X-ray]

You know what's in my mind whenever I see some celebrities or any influential figure out there trying to promote a coin, the very first thing that comes to my mind is that they're probably getting paid for shilling the coin, regardless of the outcome, they just gonna shill it, there's also certain famous people out there shilling for random shitcoin and then getting legal problem later on.
therefore I just never trust whatever a celebrity is shilling honestly, just can't get myself to invest into something that obvious just full of marketing stunt, maybe in other people's eyes these celebrities giving a shootout for certain coin increases credibility of the coin but for me it does the exact opposite that I just lose my will to invest.
i better off looking for some underrated gems in the dexscreener rather than following some random celebrities which i'm pretty damn sure that their sole purpose of shilling is to make money as well, at least with new underrated meme coin with 100% allocation goes to the community it start out with a fair game where if everyone want to profit they should be buying from early in the dex. other than that its not a fair game.
therefore my take is that i just don't trust them enough with my financial decision to give them any influence on me.
at best it just giving me information which i'm gonna do some proper analysis rather on and decide whether its worth investing into or not and then just ignore it.
never a fan entrusting my financial decision and taking account these celebs opinion to influence my portfolio anyway. I know for a fact that i'd rather bet on my own analysis than rather betting on the obvious paid shill that they are.

[$crypto$]

I just heard of the MOTHER meme coin, so never followed from $100K MC to 100M so it's natural that memes continue to be fomoed by celebrities because they just want to create a pump in a short time, and meme hunters will be happy to hear this news especially until celebrities support it.

A celebrity endorsing memes? I suspect it is an influencer who is paid by the meme so that their shitcoin continues to fly and is noticed by many followers, honestly not at all interested once the price rises 100x, not not wanting profit but I see the risk in it.

[muncuss]

It already happened in my country in previous bull cycle. Celeb with no knowledge of cryptocurrency launched their own token which i sure just to make them get richer. As expected their token is nothing now

[electronicash]

I just heard of the MOTHER meme coin, so never followed from $100K MC to 100M so it's natural that memes continue to be fomoed by celebrities because they just want to create a pump in a short time, and meme hunters will be happy to hear this news especially until celebrities support it.

A celebrity endorsing memes? I suspect it is an influencer who is paid by the meme so that their shitcoin continues to fly and is noticed by many followers, honestly not at all interested once the price rises 100x, not not wanting profit but I see the risk in it.

she didn't endorse the memecoin, it looks like she owns the token. It was named after her. how popular is the celeb rapper? only the 14 year old today knew this iggy.

here's probably what's happening she asks a developer to name it after her and then sells the tokens to the exchanges while they pump the price. they could gradually sell their stash while also using the amount to pump.

[aioc]

There were reports of inside trading so it's obvious that the developers and the backers were the first ones who were going to make a lot of money and they are going to dump their shares to small investors, I don't believe this will be sustainable this is a trap that if you're late you're going to lose a lot of money.
Investors should focus on coins with fundamentals and usage these mem coins are meant for their developers and influencers to make money at your expense.

[Phoenixtrader]

I just heard of the MOTHER meme coin, so never followed from $100K MC to 100M so it's natural that memes continue to be fomoed by celebrities because they just want to create a pump in a short time, and meme hunters will be happy to hear this news especially until celebrities support it.

A celebrity endorsing memes? I suspect it is an influencer who is paid by the meme so that their shitcoin continues to fly and is noticed by many followers, honestly not at all interested once the price rises 100x, not not wanting profit but I see the risk in it.

No the meme is named after her I think. She's made videos talking about it etc.. it's a meme though but it's pulling a lot of attention and good numbers. Hence I' was curious.