FLOKI, NOT PEPE, Made That Chest Coin Rally: Here’s Why!

The decline in the crypto market also affected the chest coin branch. Chest coins such as FLOKI and PEPE, which have boomed this year, are moving in the red zone. However, there are also those who move in the opposite direction of the market. Australian rapper Iggy Azalea has revived telecommunications company Unreal Mobile. This breakthrough led to a 30 percent increase in the chest coin called Mother Iggy (MOTHER). This development comes at the same time as many industry leaders are strongly criticizing celebrity chest coins.

Iggy Azalea is trying to bring a use case for her Breast Coin!

Australian rapper Iggy Azalea announced that Unreal Mobile will accept MOTHER and Solana (SOL) to purchase phones and monthly cell plans. This update is powered by a partnership with Sphere Labs, a payment infrastructure provider that will help incorporate crypto payments. In this context, Azalea shared the development on X as follows:

Tomorrow, I am finally relaunching the telecommunications company I co-founded, and you will be able to purchase phone or monthly mobile phone plans using MOTHER or SOL.

Unreal Mobile provides competitive plans ranging from $20 to $80 per month. However, these plans will depend on information usage and network options. Following Azalea’s announcement on X, MOTHER’s price increased by over 30 percent.

Mother Iggy (MOTHER) Price Performance. Source: TradingView

The community made fun of Azalea’s attempt!

However, Azalea’s new initiative was met with skepticism by the community. Some community members mocked Unreal Mobile’s efforts, comparing it to the original Solana Saga Mobile. Iggy Azalea made the following statement about these:

Unreal Mobile is a service provider. Of course, we offer a variety of phones for purchase if needed, but this is secondary. We love what Anatoly has developed and aim to eventually have it in our current phone selection.

Moreover, celebrity chest coins have also received widespread criticism from industry leaders. This is because they often lack valuable reinforcement and are superficial in nature. cryptokoin.comAs you follow from , Vitalik Buterin, the co-founder of Ethereum, expressed his concerns.

Celebrities’ chest coin projects are at the center of criticism!

However, Azalea has distanced herself from controversies involving other celebrities and crypto ventures. She vehemently denied any involvement with Kıyı Arora, who is accused of deceiving investors. Additionally, Azalea promised to burn some of her cryptocurrency assets in response to the ‘rugpull’ of celebrities who have recently entered the crypto space.

But the project has faced challenges, including reports from blockchain analytics firm Bubblemaps. They stated that there was significant insider activity at the launch of MOTHER, with ‘insider traders’ purchasing 20% ​​of the supply before the announcement and later selling tokens worth $2 million. These developments were caught on the radar of on-chain researchers. Thus, it highlighted the complexity of celebrity-led crypto ventures