The Iggy Azalea-launched “MOTHER” is the only token launched by celebrities last week still hitting new all-time highs. It has now amassed a market cap of $130 million.
The majority of celebrity-backed tokens that launched last week, including JENNER, DAVIDO, and RICH, have tanked at least 66% since peaking — though one token bucked that trend and is still setting new all-time highs.
One of the more notable celeb token launches last week was “JENNER” by American media personality Caitlyn Jenner on May 28. Many initially thought the token was part of a deep fake X account hack.
JENNER topped a $30 million market cap within the first 24 hours as people debated online whether the token was genuinely launched and endorsed by the celebrity. However, despite it being clarified by Jenner herself that it is legitimate, it has since fallen 79% from its all-time high of $0.0061.
