Solana meme coin, Mother Iggy (MOTHER), has reclaimed the $100 million market cap, which was last tapped on 27th July.
Since then, MOTHER/SOL had dipped lower and consolidated throughout the month of August, until 8th September, when it started surging again. As Solana is touching $152 again at press time, many other previously established meme coins are expected to pump.
As such, it appears that MOTHER is on its road to recovery, with its all-time high at $258 million. It is probably the only celebrity meme coin from this cycle that has performed well, as compared to others like DAVIDO, HULK, and FLOCKA that were alleged as slow rugs.
Arthur Hayes doubles down on MOTHER position
While Iggy was facing backlash for her Vegas crypto party and her recent comments on Vitalik Buterin and Ethereum, co-founder of BitMEX Arthur Hayes has tweeted about MOTHER.
In one of his recent tweets, Hayes tweeted that he has doubled down on his MOTHER position. He also tweeted that MOTHER could hit a billion market cap.
Iggy also replied to Arthur’s tweet, stating that Arthur has taken the MOTHER pill. In a separate tweet, she also spoke about MOTHER breaking the $100 million market cap.
Arthur has taken the $MOTHER pill https://t.co/R1NSDSJ7ZJ pic.twitter.com/fGhfh3zk54
— IGGY AZALEA (@IGGYAZALEA) September 25, 2024
Iggy stated that she wants the meme coin to break the $100 million market cap because she believes there is no resistance between that level and an all time high.
CoinGecko data shows that MOTHER is up by over 26.5% in the last 24 hours. Interestingly, Iggy’s meme coin is also up by 140% in the last seven days and over 173% in the last 30 days.
Solana based meme coins show double digit gains
The surge in MOTHER’s price coincides with the pump of other Solana based meme coins. In the last 24 hours, the top SOL based meme coins, including dogwifhat (WIF), BONK and POPCAT, were all up by over 20%.
The third largest SOL meme coin, POPCAT, also hit a billion dollar market cap today. The pump comes amidst Solana’s surge above the $150 level. In the last 24 hours, SOL went as high as $153. The coin has now fallen to a price of $150.64.
Additional reporting by Noor Bazmi
