Celebrities are here

Hey guys, few days ago it was a cat and dog world as far as memes were concerned, today, celebrity tokens have taken over. What is really going on? Let’s get into it.

I wrote about the Caitlyn Jenner drama that blew up Twitter about two days ago, if you thought that was the craziest thing, listen to hear what came next, guys, it wasn’t even 48hours after the Jenner cruise that Iggy Azalea launched a meme token $Mother and it took the world of crypto by a storm. How did that even happen?

Welcome $Mother Iggy

So while crypto Twitter people were still perusing Jenner token, word got out that Iggy was working with a “Sahil” guy who is a dev known for rugging people, but she refuted the claims and hinted that her coin was on the way. Few hours later, boom. $Mother Iggy was launched to the world.

And Ofcourse it came with its own drama, first, the token was launched about 2hours before she announced it, giving the impression that she and her circle got the lions share of the total issued tokens before everyone else could, aka front running her followers.

She refuted these claims as well and said she was only deliberating with her brother on whether or not to use the already launched token or create a new one, unfortunately for her, people were already speculating and buying the token ahead. In 2 hours, the token had gotten to $10m.

As if that wasn’t enough drama

The drama continued when the token’s liquidity pool experienced a mysterious depletion. Rumors swirled that Iggy or someone from her team might have pulled liquidity, leading to accusations of a potential rug pull.

Iggy took to Twitter, vehemently denying any wrongdoing and pointing fingers at the notorious "Sahil" who had allegedly manipulated the situation to tarnish her reputation.

Despite the controversies, the token’s value kept climbing. Crypto people, driven by FOMO, poured money into $Mother Iggy, hoping to catch the next moonshot. The token reached an astonishing $50 million market cap within 24 hours of launch.

The rise of celebrity tokens marks a new trend in the world of meme tokens. It’s no longer just about the technology or the community, now it’s about the personalities and the drama they bring.

Celebrity token meta?

These tokens tap into the fan bases of celebrities, leveraging their influence to drive market dynamics. But with great influence comes great responsibility, and the question remains whether these celebrities and their teams can handle the volatility and ethical implications of such ventures.

Will the next celebrity token be a rug pull or another moonshot? What about the legal implications? Will there be investor protection, or is it all just a Wild West where dog eat dog? How does all this affect mass adoption in the long run?

These are the questions on my mind and potential investor should be asking. The rise of celebrity tokens brings both excitement and caution to the forefront. On one hand, these tokens can introduce new audiences to the world of crypto, potentially accelerating mass adoption.

On the other hand, the involvement of celebrities without a deep understanding of the technology and market dynamics can lead to risky ventures and potential scams.

In this unprecedented future,

Investors need to stay vigilant and take a chill pill, as for the celebrities, they need to realize that their influence comes with responsibility. Partnering with reputable developers, ensuring transparency, and maintaining open communication with their followers can help build trust and create sustainable projects.

So my dear readers and frens. Be careful out there, this space is as crazy as it gets. Have fun and don’t invest more than you’re willing to loose.

Thanks for reading.

Kindly share your thoughts below.

Posted Using InLeo Alpha