The Aussie artist launched her own memecoin project as she continued to distance herself from the scandal-tainted project bearing her name.
Australian musician Iggy Azalea's recently launched memecoin surged to a market capitalization of over $28 million on May 29, surpassing a token named after her by Sahil Arora, who has been accused of fraudulent activities.a screenshot on Telegram. The screenshot appeared to show a text message in which the artist discussed a social media campaign for his new token.“Also don’t believe the bullshit fake screen shots n all the rest… Sahil baby take your L and go already,” Azaleaof being scams.
But strong market performance may not be Arora’s target for $IGGY, as he has been accused of multiple pump-and-dump schemes, often involving alleged presale scams. Arora's IGGY launch was also preceded by a presale, a fundraising tactic in which investors send funds to a specific address. This method is not a requirement for launching coins on Pump.fun, the memecoin launchpad used for IGGY. The suspicious method has drawn public scam accusations.revealed that the Solana address Arora used for the presale held over $370,000 in SOL as of 10 am UTC.“Tons of people make big from my launches,” Arora told Cointelegraph in an earlier message exchange. “The few that don’t become haters.
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