What's Your Take on Celebrities Backing Memecoins?

[Phoenixtrader]

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.

Oh really. Insider trading on memecoins? Weird

[Reatim]

We all know that celebrities rarely check whatever brands or projects are pushed onto their hands to promote. As long as it’s keeping their lights open, they will take it, post it and show it to everyone. All they need is a check and a script.

They still should be careful though because it can all easily backfire. If they support a project that turns out to be a scam or a rug-pull, their fans who invested would be outraged. Just like what happened with Cristiano Ronaldo, known footballer, who was sued because of his promoted NFTs that said to be have generated nothing but losses for those who had believed in him. Obviously it’s their fault but they can easily blame it to the celebrities so I don’t know how many of these celebrities are desperate enough to take the risk.

[GideonGono]

The question is do they even know what they are promoting?
Do they have knowledge about crypto or how it works, what is the purpose of the crypto that they are promoting.
Most of them are just being used for publicity, they accept it just for the money, they are being paid to promote the project.

[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.

Oh really. Insider trading on memecoins? Weird

Yes, it's been happening, not only on Mother meme coin it's an open secret

The Controversial Launch
The launch of MOTHER was not without its share of controversy. Reports surfaced indicating that more than 20% of the total supply of the token was purchased by insiders. This led to accusations of insider trading, with claims that Azalea had offloaded a substantial portion of the token's supply on early buyers. The controversy was fueled by the sale of over $2 million worth of tokens, raising concerns about the integrity of the launch.

Solana Meme Coin MOTHER Gains Traction Despite Initial Setbacks

This is how whales make money many memes are launched claiming to be fair distribution but in reality, there is inside trading there are exceptions some memes do have a fair launch so this is something worth looking into on a project, the behavior of the developers and influencers are important.

[Asiska02]

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?

Meme coins have been backed by celebrities in the past and I’m not surprised to see this one also. This is not the first time and will not be the last time celebrities will back meme coins. For this meme coin, MOTHER that was backed by celebrity and did well within a short time period is not a certainty that the next one will do well that will be backed by him by some more other celebrities. Let your convictions on a coin be your sole purpose why investing in them and that conviction can only be built through people research into the project by going through, the white paper, roadmap and also how active and innovative the team behind the project are.

[albon]

Yes, it's been happening, not only on Mother meme coin it's an open secret

The Controversial Launch
The launch of MOTHER was not without its share of controversy. Reports surfaced indicating that more than 20% of the total supply of the token was purchased by insiders. This led to accusations of insider trading, with claims that Azalea had offloaded a substantial portion of the token's supply on early buyers. The controversy was fueled by the sale of over $2 million worth of tokens, raising concerns about the integrity of the launch.

Solana Meme Coin MOTHER Gains Traction Despite Initial Setbacks

This is how whales make money many memes are launched claiming to be fair distribution but in reality, there is inside trading there are exceptions some memes do have a fair launch so this is something worth looking into on a project, the behavior of the developers and influencers are important.

These trades and insider purchases, maintaining a large currency supply by the team and developers, unfair launches after the pre-sales, and price manipulation significantly overshadow the meme coins sector. Innocent investors and Iggy Azalea fans are the victims exposed to high risks after following the harmful marketing created by this famous Australian singer seeking wealth along with her whales' associates at the expense of her followers. I do not blame her alone but also those who followed the hype of the $MOTHER coin without studying the risks and doing the necessary research. While some might have made good profits from the rise in the currency's value, I am confident that thousands lost a significant portion of their capital after the massive sell-offs.

As for the meme coins promoted by celebrities or influencers, they undoubtedly may have a great interest and benefit in promoting them and taking their marketing fees, and the future of these coins becomes cloudy and bleak for those who hold them after the promoters move to promote another currency.

[goaldigger]

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

As a celebrities they should not accept any project without any idea about it because this can ruin their career especially if that meme token turns to scam. I don’t follow meme token for this reason because I have to do my own research and I have to understand why there’s a hype. If that celebrities are into crypto as well then it can be a good marketing but if not, then its all about money.

[lalabotax]

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?

This one?
https://www.coingecko.com/en/coins/mother-iggy

Wow, I just knew that there was this meme coin and this coin has gone up more than 80%, you know. looks like snat was successful. It's just that, I'm actually quite worried about the various projects promoted by celebrities. In the end, it's still the same, a rugpull or a big loss. because it is certain that this project will really spread hype and then attract a lot of attention and investment, especially from the fans. And those who don't understand just follow along, which means they end up having to give up their money to survive. It's quite unfortunate that this has happened several times.

[FinneysTrueVision]

These are all pump and dumps. There have been several investigations and there is usually a large percent of the supply held by the creators of the token and insiders who bought tokens before the public was able to buy some. This isn’t much different from the NFT trend from several years ago where most of those NFTs promoted by celebrities are almost nearly worthless or dead by now.

Despite what she might claim, Iggy Azalea’s memecoin, is most certainly a scam, if you look at all the evidence.
https://beincrypto.com/iggy-azalea-mother-meme-coin-controversy/

[Iamcrypticguy]

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?

This one?
https://www.coingecko.com/en/coins/mother-iggy

Wow, I just knew that there was this meme coin and this coin has gone up more than 80%, you know. looks like snat was successful. It's just that, I'm actually quite worried about the various projects promoted by celebrities. In the end, it's still the same, a rugpull or a big loss. because it is certain that this project will really spread hype and then attract a lot of attention and investment, especially from the fans. And those who don't understand just follow along, which means they end up having to give up their money to survive. It's quite unfortunate that this has happened several times.

That's exactly what it's doing. Hype, attention and optimism. I'll suggest DYOR extremely though but tbh she's doing it good. Launching a store that uses mother as MOP and issuing a burn. Smart though. https://x.com/IGGYAZALEA/status/1798850017727557913?t=sjKECcl527Ox-Oc4S0JGyw&s=19. Even volumes on it on platforms like Bitget is in the millions. If you're a meme trader. Riding the hype rn won't be a bad idea imo..

[Strongkored]

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 meme-coin, and They are just paid people who make a profit from the many people who buy the coin, so don't get caught up in what the celebrity says, it's very possible that he doesn't know for sure what is being promoted, and if the celebrity has the coin, it's not by buying it, because you get a share from the developer, so once again you don't want to be fooled and if you still feel like you want to own the coin, go ahead, but remember the risk will be very big, so only use money that you can afford to lose and also when you get a profit, immediately exit that coin market.

[Rasa nanas]

Please give a clearer picture of the project you are referring to. I checked at CMC found MOTHER coin priced at 0.2 and MC $213M. If it is true that this is the meme coin you are referring to, I hesitate to say this is a meme coin because it is very rare for meme coins to have a price of up to $0.2. However, I was very surprised because the coin had a very large 24-hour volume of $208M, and this indicated that this coin was being traded massively by many people.

[Kristiyana]

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?

Actually I'm not surprised about the hype because it will definitely fall back to it actual value and i don't even think if such memecoin will last for a long period of time. That is why we need to be very careful with this memecoin that is been backed by celebrities because their intentions is just to make money, whether you lose or you gain is non of there business the most important thing is that they have gotten what they want this is why we need to be extremely careful.

[God bless u]

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?

What's the point of asking for our take on that. In short celebrities are known for promoting stuff so that they can earn money by their promotions and they are made for that. Why would a crypto trader take these kind of celebrities and influencers seriously.

We have learned trading to apply our skills and to know that we are here because of our skills. So we should focus on our takes and analyzation rather than on celebrities promotion.

[Bravut]

OP, you used the word "Celebrities", and you believe such meme coin should be trusted how earth; That influencing and only for profit purposes and undoubtedly Ponzi, celebrities always do so every bull run and you see a spike later on a dump, it is very manipulative. Such coins, do not last. Let me cautious and not fall prey.

[CoinMin3r]

I'd say celebrities aren't backing memecoins by themselves but are being paid to promote those coins. They are paid to be like brand ambassador so that project team can promote their memecoin showing so called celebrities face. But most of the memecoins are like pump and dump like things. Get in early, get huge profit and being late entry means huge loss.

[ahmedjamal1998]

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?

Well this is nothing new. It's the usual advertising that they do but instead of it being of a product that they get a cut from, it's for a coin.

Do you think they really care about crypto or even know what that project is about?
They absolutely don't !

You might be new in the crypto space and haven't seen this happen but this is quite the norm for some time now. Just search for Mcafee tweets back in the day. It was quite the show.

If you want real coins with value and purpose, do your research and don't depend on some celebrity who's just trying to make money off of you.

[Volimack]

Prediction of meme coins is very difficult as no one can predict what will happen in the next bull run. Some meme coins in the market are promising but later they do not perform well. More memecoins backed by celebrities could be better as they are their own coins and the very rich can easily raise the coin's value.

[bastian466]

Memecoin project that is supported by a well known celebrity who is known to many people throughout the world so that the positive impact can be felt from this project, like its predecessor, Doge Coin, when it was adopted by Elon, so the price rose drastically. so this method is imitated by other new meme coin projects to make a profit

[kentrolla]

Celebrities don't give a damn about our emotions or whatever happens with us as well they need is money which they get for endorsing the memecoins or NFT or any projects. I think we need to be cautious while investing because just like Elon Musk's craze with Doge got over even this will end but yeah we may risk and try experimenting only with an amount which we can afford to lose