As a seasoned crypto investor with a knack for spotting potential gems and navigating the ever-volatile market, I must admit, I find myself intrigued by the MOTHER token’s recent rebound and its upcoming venture into an online casino, Motherland. However, my interest is not purely based on the surge in value or the prospect of winning big at blackjack or poker.
The crypto token belonging to rapper Iggy Azalea regained momentum following her announcement of launching an internet-based casino named Motherland.
Mother Iggy soared to a peak of $0.0950, marking an impressive 180% increase from its lowest point in August. This surge in value now places it at a market capitalization exceeding $88 million.
A portion of the increase is due to Azalea’s move to debut Motherland, a digital casino, in November. This platform will facilitate transactions using her own token and offer popular games such as blackjack, roulette, and poker.
This undertaking forms a crucial component of Azalea’s plan to distinguish the MOTHER token from typical meme coins. Her aim is to expand its functionality, allowing users to buy phones and mobile plans among other uses.
Nevertheless, the popularity of MOTHER and other well-known figures is currently much lower compared to a few months back. Specifically, MOTHER’s popularity has decreased by approximately 63% from its peak this year.
In a similar vein, the value of Andrew Tate’s (DADDY) token has dropped more than 74% from its peak, whereas Caitlyn Jenner’s (JENNER) token has declined by over 96%, leaving it with a market capitalization of only $170,000. Across all celebrity-themed tokens monitored by CoinGecko, the total market capitalization stands at approximately $92 million.
Currently, users on Polymarket are predicting an increased likelihood that the U.S. government will accuse Azalea. The probability of charges against her has climbed to 25%, reaching its highest point since July 28, and has risen from its lowest this month of 8%.
Previously, several celebrities have faced accusations of endorsing cryptocurrencies. For instance, in 2022, Kim Kardashian paid a fine of $1.26 million to the Securities and Exchange Commission due to claims that she advertised the EMAX token. Additionally, Floyd Mayweather and DJ Khaled were penalized by the SEC for their involvement in initial coin offerings.
MOTHER is forming a cup and handle
1) The MOTHER token has rebounded and surpassed its 25-day Exponential Moving Average. Additionally, it’s now trading above a significant resistance level on the Murrey Math Lines, which is around $0.0855.
Furthermore, there’s evidence suggesting it’s shaping up as a cup and handle chart configuration, often seen as a bullish signal. Also, it has developed a triple-bottom formation at $0.033. Moreover, the Average Directional Index has climbed to 34, signifying a robust trend direction.
Consequently, it’s expected that the MOTHER token will probably increase prior to the launch of Motherland casino in November.
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2024-09-24 18:52