Celebrity Meme Coins Plummet: Iggy Azalea's MOTHER, Andrew Tate's DADDY Lose Over 80%

Celebrity-endorsed meme coins have experienced significant downturns, with some losing over 80% of their value from all-time highs (ATH).

The report comes following revelations that crypto investors may be shifting focus towards projects with real-world value.

According to data from Messari, prominent tokens such as MOTHER, DADDY, TRUMP, MELANIA, and JAILSTOOL have seen an average decline of 78% since their peak valuations.

MOTHER and DADDY tokens are associated with Australian rapper Iggy Azalea and social media personality Andrew Tate, respectively. Both tokens reached their ATHs in June and July 2024. However, they have failed to recover since, with each plummeting by more than 80%.

The TRUMP coin has decreased by over 60%, while the MELANIA token has suffered a decline exceeding 80%. The TRUMP coin recently hit a new all-time low amid escalating geopolitical tensions, including a tariff war initiated by the US President. The token had already recorded a 72% drop from its ATH just a week prior.

Additionally, the coin’s open interest—a measure of the total number of outstanding derivative contracts—has declined. This indicates waning investor interest and potential market exit.

Open interest is a crucial metric in the crypto market. Declining open interest often signals that traders are closing their positions, interpreted as a lack of confidence in the asset’s future performance. This trend suggests investors are increasingly cautious about the TRUMP coin’s prospects.

Other celebrity-associated tokens have also faced challenges. Ivanka Trump, who denied any association with cryptocurrency, disavowed the IVANKA coin. JAILSTOOL meme coin has also recorded a significant drop.

Dave Portnoy, founder of Barstool Sports, played a pivotal role in promoting the JAILSTOOL meme coin. His endorsement led to an astonishing overnight surge in its market capitalization by 100,000%. Despite the downturn, Portnoy remains committed to the token.

“…and regardless of what I do, I will continue to root for JAILSTOOL and honor every commitment I made. It goes to a $200