- Iggy Azalea’s recent tweet on Solana illustrates celebrity participation in crypto.
- Twitter discussions drive market sentiment, affecting token valuations significantly.
Amidst the frenzy of institutional interest in crypto, celebrities are diving into the digital gold rush! The latest to join the fun is Australian rapper extraordinaire, 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!
This caused quite a stir in the community, especially when Bonk’s [BONK] official account joined the conversation.
The Solana [SOL]-based meme coin account responded with a touch of sarcasm, simply saying,
Source: BONK/X
Adding to the list was American television personality Caitlyn Marie Jenner, who asked,
“Haven’t you heard? It’s Solana summer?”
However, not everyone seized this opportunity to discuss crypto, some misunderstood the situation. But Azalea was quick to correct detractors.
Source: Iggy Azalea/X
While Azalea is the latest to join the conversation, she isn’t the sole hip-hop artist who has displayed curiosity in cryptocurrency this week.
Joining the trend, ‘Rich the Kid’, who recently made waves with his appearance on Kanye West’s hit track “Carnival,” also unveiled plans for his own token launch.
Amidst this light-hearted conversation, however, a new angle emerged when an X user – ‘Spy’ replied to Azalea’s tweet and said,
“Are u in contact with Sahil? he is claiming you are.”
Is Azalea involved in Sahil Arora’s scam?
For context, Sahil Arora is an alleged serial scammer who launched fake meme coins for celebrities. However, Azalea clarified that she is not connected to Sahil and his presale.
Source: Iggy Azalea/X
How did Solana react to this?
Interestingly, this discussion had a minor impact on the Solana token, which experienced a modest increase of 0.94% in the past 24 hours.
Moreover, the Solana memecoin market cap currently stands at $11 billion, reflecting an 8.2% change in the last 24 hours according to CoinGecko.
This was further confirmed by AMBCrypto’s analysis of Santiment’s data on Social Dominance, revealing a significant surge in the past 24 hours.
Source: Santiment
In conclusion, this recent market scenario underscores the influence of social media on token prices, particularly evident in meme-based coins.
Historically, Ethereum [ETH]-based meme coins like Dogecoin [DOGE], Shiba Inu [SHIB], and Pepe have experienced significant fluctuations, often driven by Elon Musk’s tweets.
Now, we observe a similar trend extending to Solana-based meme coins.