Market
Iggy Azalea’s Mother Coin Scandal: $2 Million Insider Trading
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Following Caitlyn Jenner’s controversial meme coin launch, Sahil Arora, the “middleman” accused of scamming Jenner and rapper Rich the Kid, has targeted Australian rapper Iggy Azalea.
Arora suggested his next celebrity collaboration for launching a meme coin would be with Azalea, utilizing Solana’s meme coin launchpad, pump.fun.
Inside Iggy Azalea’s Meme Coin Controversy
In his Telegram group, he shared an address and encouraged members to send Solana (SOL) to participate in a presale for a new token named IGGY. He initially opened the presale to 100 wallets but increased the limit to 700 and then to 1,000.
The presale wallet has amassed over $380,000 in cryptocurrency. However, investors claimed that they had yet to receive their tokens.
During its debut, IGGY showed a strong performance. According to data from DEX Screener, it quickly reached a market capitalization of approximately $3 million. Yet, at the time of writing, IGGY is now trading at $0.00003907, with the market capitalization slumped to $39,000.
Read more: Crypto Social Media Scams: How to Stay Safe
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After Arora’s announcement, Azalea declared on her X (Twitter) account that she launched her own meme coin, Mother Iggy (MOTHER), with the token address. She clarified that she independently launched MOTHER, urging her followers not to trust false claims about her involvement with Arora.
“Don’t disappoint your mother. Also don’t believe the bullsh*t, fake screenshots, and all the rest. I know you all are smarter than that. No one is working with me. I can’t say it enough. Not true. Sahil, baby, take your L and go already,” Azalea stated in her post.
Compared to IGGY, MOTHER had a stronger debut. It reached a market capitalization of $18.2 million. DEX Screener data reveals that MOTHER is now trading at $0.008633, with its market capitalization halved to $9.2 million.
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Azalea admitted in an X Space discussion that no one had “really onboarded” her to the crypto industry. She claimed her brother, Mathias ‘Matt’ Kelly, helped her launch the token.
“Matt just likes crypto and honestly, [he] just doesn’t shut up about any type of technology or new thing. Meme coin involves so much more sh*tposting and memeing and stuff that I really like, like that kind of culture of the internet,” she explained.
Furthermore, Azalea outlined her plans to build trust and integrity in the crypto community. She aims to distinguish herself from other controversial celebrity tokens.
“Every time they start rugging, I just want to burn some of mine because I’m a celebrity in the space, and I know I’m going to get hated on for being here. So I’m just going to burn some every time someone comes that’s a celebrity and it’s looking like it’s clearly a rug. I’m just gonna burn,” she affirmed.
Insider Trading Allegations Hit Iggy Azalea’s Meme Coin
Despite Azalea’s efforts, blockchain data provider Bubblemaps discovered “huge insider activity” in the MOTHER meme coin. Insiders bought 20% of the supply at launch before Azalea announced and have since dumped tokens worth $2 million.
According to Bubblemaps, wallet address JEEt3D1dZynWcgEcpPCNP2FvSbydHJiyfurU6QKVDVMH bought 109 trillion MOTHER, equal to 10% of the supply. The wallet then splits those tokens into seven wallets.
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“Out of these, 89 trillion tokens have been sold. Realized profit and loss: $1.4 million. Unrealized profit and loss: $400,000,” Bubblemaps noted.
The wallet sent SOL to highly profitable wallets that made significant returns on MOTHER. These include DbT9xdKUD7jghNDmvhfmiCxenhusbAMzR5PKdx2qk4Cx, 3nsX9zGLyk9hVskckHAznMtcKxm4UCN51RXsht5CmX2c, and 4YozmZV6mmNCBZavNZRHj9jD7mD46X2CHHhasYXVtGkJ. These wallets reportedly made approximately $800,000 by selling 8% of the token supply.
In addition to the discoveries made by Bubblemaps, when on-chain investigator Coffeezilla questioned Arora regarding the recent accusations made by Jenner, Azalea, and Rich the Kid, Arora confessed that the entire situation was “all orchestrated.” He further accused Rich the Kid of exploiting him for publicity by making false allegations of hacking and scams.
“This meta was started by me. They wouldn’t have clocked any of that if I didn’t back them up. Period,” Arora told Coffeezilla in an Instagram message.
Davido’s Meme Coin Exit Raises Eyebrows
In a related development, American-born Nigerian singer Davido launched a meme coin named after himself. On-chain tracker platform Lookonchain reported that Davido created the token on Wednesday using pump.fun. He received 7.5 SOL (approximately $1,275) as initial capital and spent 7 SOL ($1,190) to buy 203 million DAVIDO, equaling 20.3% of the total supply.
Several hours after creating and promoting the meme coin on his social media, Davido cashed out 121.88 million DAVIDO for 2,791 SOL, generating roughly $474,400. This transaction led to speculation that Davido made this token solely for pump and dump.
In response to the trend of celebrity meme coins, Wale Moca, a researcher at Azuki, examined past celebrity-owned and celebrity-promoted crypto projects. According to Moca, they all failed, with most being scams. This pattern raises concerns about the sustainability and integrity of such ventures.
“At the end of the day, these projects usually fail because the individuals behind them just don’t care. Either they get a bag for promoting and posting a video or their team coordinates a sale. In most cases, there is no real interest or plan for the project. […] I would be surprised if any of the celebrities that promoted them even know what’s going on,” Moca explained.
Read more: Crypto Scam Projects: How To Spot Fake Tokens
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Regulatory bodies have previously taken action against misleading crypto promotions. In October 2022, the US Securities and Exchange Commission (SEC) charged Kim Kardashian for promoting EthereumMAX (EMAX) as crypto asset security without disclosing her financial compensation. Kardashian settled the charges by paying $1.26 million in penalties and cooperating with the ongoing investigation.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
3 Meme Coins to Watch For The Last Week of February 2025
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DOGEai, TST, and BROCCOLI are three meme coins drawing attention for the last week of February. DOGEai, launched on Solana, is up 110% in the past seven days, positioning itself as a leading AI meme coin.
TST remains one of the most popular meme coins on the BNB chain despite a recent correction. At the same time, BROCCOLI, inspired by Binance co-founder CZ’s dog, has also seen significant volatility.
DOGEai (DOGEAI)
DOGEai is an artificial intelligence coin launched on Solana. Its market cap is now $32 million, up 82% in the last seven days. This rise has positioned DOGEai as one of the most talked-about AI meme coins in recent days.
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DOGEai leverages multiple narratives, including Dogecoin’s popularity, the growing interest in DOGE (Department of Government Efficiency), and the broader AI cryptos trend. It defines itself as “an autonomous AI agent here to uncover waste and inefficiencies in government spending and policy decisions,” offering bill summaries and insights into government expenditures.
If the current uptrend continues, DOGEai could test the resistance at $0.048, with potential targets at $0.059 and $0.069. However, if a downtrend emerges, DOGEai has support at $0.030, and if that level is lost, it could drop to $0.018 or even $0.0092.
Test (TST)
TST has emerged as one of the most popular meme coins on the BNB chain, benefiting from the chain’s growing volume, which recently even surpassed Solana.
In the days following its launch, TST reached a market cap close to $500 million, then entered a strong correction phase. Its market cap has since dropped to $78 million.
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If the BNB narrative gains strength again, TST could benefit as one of its most popular meme coins and may test the resistance at $0.10. A breakout above this level could push TST to $0.20 or even $0.25 if buying pressure intensifies.
However, if TST fails to regain strong upward momentum, it could test the support at $0.0719 and potentially drop to its lowest levels since February 9.
CZ’S Dog (BROCCOLI)
BROCCOLI was launched a few weeks ago after Binance co-founder CZ revealed his dog’s name, sparking a flood of BROCCOLI tokens on the market.
The largest of these tokens quickly surged to a $249 million market cap in its early days but has since dropped to $52 million.
Like TST, BROCCOLI benefited from the recent rise of the BNB ecosystem but has since entered a strong correction phase. It is down 40% in the last seven days.
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If the downtrend continues, BROCCOLI could test support near $0.04, and a break below this level could push it to its lowest price since launch.
However, if the BNB ecosystem and meme coins regain traction, BROCCOLI could benefit, especially given the popularity of dog-related meme coins like Dogecoin and Shiba Inu. In this bullish scenario, BROCCOLI could rise to test the resistance at $0.113.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Ethereum Rollback Debate Intensifies After Bybit Hack
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The crypto community is divided over calls for an Ethereum blockchain rollback following a massive security breach at Bybit.
On February 21, the exchange lost nearly $1.5 billion in ETH to hackers, sparking discussions about whether Ethereum should intervene to recover the stolen funds.
What is a Blockchain Rollback?
A blockchain rollback, also known as a reorganization, involves reversing confirmed transactions to restore the network to an earlier state.
This process usually happens after a major security breach or exploit. Validators must reach a consensus to discard the affected blocks, effectively erasing the malicious transactions.
Despite its potential benefits, a rollback remains a controversial and rarely used measure due to its impact on a blockchain’s trust and decentralization.
Blockchains operate on the principle of immutability, meaning transactions are expected to be final once confirmed. So, rolling back transactions challenges this principle, raising concerns about the security and reliability of the network.
Crypto Leaders Clash Over Ethereum Rollback Proposal
BitMEX co-founder Arthur Hayes has been vocal in advocating for a rollback to solve the ByBit hack. He pointed to the 2016 DAO hack, where Ethereum underwent a hard fork to recover stolen funds, as precedent.
Hayes argued that since Ethereum previously compromised on immutability, another intervention should not be off the table.
“My own view as a mega ETH bag holder is ETH stopped being money in 2016 after the DAO hack hardfork. If the community wanted to do it again, I would support it because we already voted no on immutability in 2016,” Hayes said.
JAN3 CEO Samson Mow also supported the rollback, stating it could prevent North Korea from using the stolen funds to fund its nuclear weapons program.
However, not everyone agrees. Pseudonymous crypto trader Borovik strongly opposed the idea, arguing that a rollback would jeopardize Ethereum’s credibility and neutrality.
Bitcoin advocate Jimmy Song also dismissed the possibility, stating that the Bybit hack cannot be compared to the 2016 DAO exploit. Song emphasized that the DAO hack allowed for a 30-day intervention, whereas the Bybit attack is already finalized, making a rollback impractical.
“I know people are expecting the Ethereum Foundation to roll back the chain, but I suspect it’s already too much of a mess to do it cleanly,” Song added.
Meanwhile, Ethereum supporter Adriano Feria introduced an alternative perspective. He argued that Bybit could have avoided this situation by using a Layer 2 (L2) solution with conditional reversible transactions.
According to Feria, blockchain technology needs some form of reversibility to ensure real-world adoption.
“Whether through social recovery or another pre-determined, immutable, and transparent decision-making process, real-world mass adoption will not work without reversible transactions. Without this capability, transactional activity will inevitably gravitate toward TradFi systems that already provide it,” Feria stated.
This debate raises a fundamental question for Ethereum: should it prioritize immutability or intervene in extreme cases?
While some see a rollback as a necessary response to an unprecedented loss, others fear it could undermine the core principles of decentralization. Ethereum’s next steps will likely shape its long-term credibility and trust within the crypto space.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Berachain (BERA) Falls 15% After Recent Rally Surge
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Berachain (BERA) is down almost 15% in the last 24 hours, with its market cap now at $778 million, although its price remains up nearly 20% over the past seven days. This sharp pullback comes after a strong rally between February 18 and February 20, when BERA reached levels above $8.5.
BERA’s Relative Strength Index (RSI) has dropped from overbought levels, signaling a loss of bullish momentum, while its Directional Movement Index (DMI) shows growing bearish pressure. As BERA navigates this correction phase, it faces key support at $6.1, with potential resistance levels at $8.5, $9.1, and $10 if bullish momentum returns.
BERA RSI Is Dropping Steadily After Touching Overbought Levels
Berachain Relative Strength Index (RSI) is currently at 50.6, down sharply from 86.7 just two days ago when its price surged above $8.5. RSI is a momentum oscillator that measures the speed and change of price movements, ranging from 0 to 100.
It is commonly used to identify overbought or oversold conditions, with values above 70 indicating overbought levels and below 30 suggesting oversold territory.
The steep decline in BERA’s RSI reflects a significant loss of bullish momentum after reaching overbought levels above 86, where a correction was likely.
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With RSI now at 50.6, BERA is in a neutral zone, suggesting that buying and selling pressures are relatively balanced.
This could indicate a period of consolidation as the market digests recent gains. If RSI continues to decline below 50, it could signal increasing bearish momentum. This could lead to a further price drop for BERA.
Conversely, if RSI stabilizes and begins to rise, it could suggest renewed buying interest and a potential recovery in Berachain price.
BERA DMI Chart Shows Buyers Are Losing Control
Berachain Directional Movement Index (DMI) chart shows its Average Directional Index (ADX) currently at 50.5, after peaking at 60.2 yesterday, up from just 13.3 five days ago. ADX is an indicator used to measure the strength of a trend, regardless of its direction, ranging from 0 to 100.
Values above 25 typically indicate a strong trend, while values below 20 suggest a weak or sideways market. The sharp rise in ADX reflects a significant increase in trend strength, confirming that BERA has been experiencing strong directional movement recently.
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Meanwhile, BERA’s +DI is at 24.4, down from 48.4 two days ago, indicating weakening bullish momentum. Meanwhile, -DI has risen to 15.1 from 4.9, suggesting growing bearish pressure.
This shift signals that the bullish trend that drove prices higher is losing steam, and selling interest is beginning to increase.
If -DI continues to rise above +DI, it could indicate a bearish crossover, signaling a potential reversal or deeper correction in BERA’s price. However, if +DI stabilizes and moves upward again, it could suggest a continuation of the uptrend, albeit with reduced momentum.
Will Berachain Fall Below $6 Soon?
Berachain surged 53% between February 18 and February 20, pushing its price above $8.5 after the coin struggled following its airdrop. However, after this sharp rally, BERA entered a correction phase and is currently down almost 15% in the last 24 hours.
This pullback suggests profit-taking and a shift in market sentiment as buyers hesitate to push prices higher. If the downtrend continues, BERA could soon test the support at $6.1, and a break below this level could lead to a further decline towards $5.48, reflecting increased selling pressure.
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On the other hand, if Berachain can regain its bullish momentum from a few days ago, it could rise above $8.5 again, potentially testing the next resistance levels at $9.1 or even $10.
To confirm this bullish scenario, Berachain would need to see renewed buying interest and strong upward momentum. If buyers can defend key support levels and push the price above resistance zones, it could indicate the continuation of the uptrend.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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