Details about the terms of Azalea’s deal with the market maker are scarce. DWF Labs has mentioned that updates on this matter will be provided soon. At present, DWF Labs founder Andrei Grachev has not responded to comments from crypto.news.
The news had a positive impact on MOTHER’s price on Thursday, with the memecoin surging over 30% shortly after the announcement. However, MOTHER had retraced some of these gains amid an ongoing market-wide slump. At its peak, the memecoin reached a $150 million market cap and gained a devoted following of crypto-native influencers who promoted it on X Spaces and Telegram.
This move promised utility for the memecoin, a rare development for these coins that often lack practical use. Nevertheless, the token appears to have lost momentum and fallen over 85% from its all-time high, according to TradingView.