Iggy Azalea-endorsed meme coin delivers $2 million profit to insiders
Insiders made a $2 million profit by acquiring Solana meme coin Mother Iggy (MOTHER) before rapper Iggy Azalea promoted the token through her X account, according to on-chain data tracker Bubblemaps.
The wallet JEEt3D1, known as “Invincible” on meme coin marketplace Pump.fun , bought 10% of MOTHER’s supply before the Australian rapper shared the token’s smart contract address on X in the first hour of May 29t, telling her followers to “don’t disappoint mother.” The movement was similar to Caitlyn Jenner’s JENNER meme coin launch earlier this week.
JEEt3D1 split his MOTHER holdings into seven different wallets and already sold 81% of his tokens, netting a $1.4 million profit, Bubblemaps points out. Moreover, this wallet has connections with three other addresses that bought 8% of MOTHER’s supply before Azalea’s announcement, registering a cumulative return of $800,000.
Despite the insider trading claims, Azalea is telling her followers on X that she doesn’t intend to abandon the meme coin. “I agree with that, i want ppl who are gonna hold n build not dump. It’s that simple,” shared the rapper in one of her posts.
Nevertheless, Bubblemaps’ profile warned investors that “more celebrity tokens will come, but remember that most of them end up worthless and are often plagued by insider trading.”
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Experts Anticipate a Surge for SUI Cryptocurrency Based on Positive Indicators
In Brief SUI cryptocurrency shows optimism through positive technical indicators. Experts believe SUI is poised for a potential upward movement. Institutional predictions suggest significant price levels could be reached for SUI.

Massive OM Token Burn Sparks Investor Debate and Market Tension
In Brief Mullin announced a significant burn of 300 million OM tokens to reduce supply. Investor confidence is shaken as whale movements raise concerns about potential sell-offs. Market sentiment remains crucial as analysts call for additional measures for recovery.

Who is Patrice Evra, French football legend, set to speak at Token 2049 Dubai?
Elon Musk Takes Dig at Crypto Scammers Posing as “Hot Girls”
Trending news
MoreCrypto prices
More








