The launch of Iggy Azalea’s meme coin, Mother Iggy (MOTHER), has been overshadowed by accusations of insider trading amounting to $2 million. Sahil Arora, known for launching meme coins for celebrities like Caitlyn Jenner and Rich the Kid, allegedly disclosed plans to collaborate with Azalea for a Meme Coin launch, despite Azalea denying any involvement with Arora.

Suspicions around Azalea’s MOTHER coin arose due to irregularities. Arora purportedly initiated a pre-sale for an IGGY token in his Telegram group, prompting members to participate by sending Solana (SOL). The token initially performed well but quickly saw its market value plummet. Subsequently, Azalea announced her independent launch of the MOTHER token, distancing herself from Arora.

Nevertheless, Azalea’s token faced scrutiny for significant insider activity identified by blockchain data provider Bubblemaps. It was revealed that insiders purchased an unusually high 20% of the token supply at launch before it was publicly promoted, followed by a sale that netted $2 million in profit.

Azalea admitted her limited understanding of the crypto industry and acknowledged her brother, Mathias ‘Matt’ Kelly, for aiding in the token launch. She aims to enhance credibility by burning tokens whenever a new celebrity token launch sparks controversy. Despite these efforts, allegations of insider trading pose a challenge to her credibility in the crypto community.