- Iggy Azalea’s recent tweet on Solana illustrates celebrity participation in crypto.
- Twitter discussions drive market sentiment, affecting token valuations significantly.
As an analyst with extensive experience in the crypto market, I find this situation intriguing and thought-provoking. The recent tweet from Iggy Azalea about Solana is yet another example of how celebrities can influence the crypto world.
As a crypto investor, I’m thrilled to see the surge of institutional interest in the digital currency market. And it seems the hype doesn’t end there! The latest addition to this gold rush is none other than Australian rap icon, Iggy Azalea.
In her latest X (formerly Twitter) post, Iggy expressed her intrigue by questioning,
“Who’s solana…? I don’t know that b***h.”
The community goes berserk!
The community was greatly unsettled by this situation, with even more intensity when Bonk’s [BONK] authoritative voice entered the discussion.
The Solana [SOL]-based meme coin account responded with a touch of sarcasm, simply saying,
Adding to the list was American television personality Caitlyn Marie Jenner, who asked,
“Haven’t you heard? It’s Solana summer?”
Some individuals failed to utilize this chance for a crypto discussion. Instead, they misconstrued the circumstances. Nevertheless, Azalea efficiently clarified any misconceptions.
As a analyst, I’ve noticed that Azalea is the most recent addition to the ongoing discussion about cryptocurrencies among hip-hop artists this week. However, she’s not alone in expressing interest in this emerging financial trend.
Following in the footsteps of many others making headlines, Rich the Kid announced his intention to introduce a new token, having recently gained attention through his collaboration on Kanye West’s successful song “Carnival.”
During our jovial exchange, a fresh perspective surfaced when a user identified as ‘Spy’ responded to Azalea’s tweet, mentioning something in connection with an X.
“Are u in contact with Sahil? he is claiming you are.”
Is Azalea involved in Sahil Arora’s scam?
Sahil Arora is under scrutiny for reportedly creating fraudulent meme coins under the guise of popular celebrities. It’s important to note, however, that Azalea has distanced herself from this situation, making it clear that she has no involvement in Sahil’s presale activities.
She indicated that they were initially interested in a coin with real utility, outright disapproving of Arora’s presale tactics.
How did Solana react to this?
It’s intriguing to note that the ongoing conversation barely affected the Solana token, yet it still managed to grow slightly by 0.94% within the last 24-hour period.
As a crypto investor, I’ve noticed that the market capitalization of Solana’s memcoins is now hovering around $11 billion based on data from CoinGecko. This represents an approximate 8.2% increase in value over the past 24 hours.
Based on Santiment’s Social Dominance data, AMBCrypto found a notable increase within the last 24 hours.
As a crypto investor, I’ve noticed an intriguing trend in the market lately. Social media seems to be playing a significant role in determining token prices, especially for meme-based coins. In simple terms, online buzz and hype can cause dramatic price swings.
Throughout history, coins based on the Ethereum blockchain, such as Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe, have shown considerable volatility, frequently influenced by Elon Musk’s tweets.
Now, we observe a similar trend extending to Solana-based meme coins.
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2024-05-30 01:11