A prominent crypto exchange platform is listing a new memecoin just days after billionaire Elon Musk mentioned it in a tweet and sent it skyrocketing. In a new announcement, Singapore-based digital assets exchange Crypto.com says that it’s now listing Milady (LADYS), the meme asset associated with the Milady Maker non-fungible token (NFT) collection, on its […]
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A mysterious crypto wallet created right before billionaire Elon Musk tweeted about a new memecoin has netted a massive 2,300% profit. New data from blockchain tracker Lookonchain reveals that an address created an hour before Musk’s tweet about Milady (LADYS), the memecoin associated with the Milady Maker non-fungible token (NFT) collection, saw massive gains after […]
The post Mysterious Wallet Created an Hour Before Elon Musk Tweeted About New Memecoin Nets 2,300% Profit: On-Chain Data appeared first on The Daily Hodl.
The market capitalization of the LADYS token has surpassed $140 million after surging in popularity.
On May 11, Milady (LADYS), the self-organized memecoin of the namesake anime avatar nonfungible tokens (NFT) collection, surged by over 5,250% within 24 hours to trade at a $0.0000001528 at the time of publication. The day prior, American business magnate Elon Musk tweeted a meme using the imagery of a Milady NFT, sending the average Ether (ETH) sale price of the collection soaring.
According to token developers, LADYS has "no association" with Milady creator Charlotte Fang or Milady Maker. The token "is simply paying homage to an NFT collection we all love and recognize."
"$LADYS is a meme coin with no intrinsic value or expectation of financial return. There is no formal team or roadmap. The coin is completely useless and for entertainment purposes only."
However, investors have found LADYS to encompass more than just meme value. At the time of publication, the total diluted market capitalization of the token surged past $140 million with a 24-hour trading volume of $230 million. According to the token's website, the total supply of LADYS is 888 trillion. The website further explains:
"94% of the tokens were sent to the liquidity pool (LP). LP tokens were burnt, and the contract is renounced."
Until earlier this week, the token was only available on the decentralized exchange Uniswap. The token has soared in popularity after multiple major cryptocurrency exchanges listed it on May 11. Some exchanges, such as Bybit, offered LADYS prize pools to incentivize deposits. Others, such as Bitget, seem to have remained true to LADYS' meme nature in supporting its listing decision:
"LADYS is the tokenization of the fully memetically optimized white pill. LADYS is a self-organized meme coin. LADYS is the drip currency. LADYS are the points for karma, charm and beauty. LADYS is the accumulation of clout."
Love is eternal. Love is unstoppable.$LADYS is nothing but the memetic vehicle where the infinite power of love converges with the boundless potential of tokenisation.
— Milady (@miladymemecoin) May 11, 2023
Thank you to all our exchange partners who have listed $LADY today. pic.twitter.com/CE8qudznN1
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Floor prices for the anime profile picture collection hit a high of 7.8 ETH after Musk's promotion.
On May 10, American business magnate Elon Musk tweeted a meme created using imagery from the Milady nonfungible tokens (NFT) collection. Shortly thereafter, the floor price of Milady NFTs spiked from 3.8 Ether (ETH) to as high as 7.3 ETH before falling to 5.69 ETH apiece at the time of publication.
— Elon Musk (@elonmusk) May 10, 2023
Created in 2021 by digital arts collective Remilia, Milady is a collection of 10,000 anime profile picture NFTs "inspired by street style tribes." Artist Charlotte Fang founded the Remilia decentralized autonomous organization (DAO) and helped design the series.
The name "Milady" is a play on the expression "my lady," which has historically been a polite form of address for noblewomen but has since taken satirical connotations about overzealous chivalry and "nice guys" on internet forums. Four years before the Milady NFT tweet, Elon Musk referenced the namesake whilst adding "my shield is yours."
In May 2022, the floor price of Milady NFTs fell by over 50% after allegations surfaced that its creator, Charlotte Fang, was involved in various fringe ideologies on the anonymous imageboard site 4chan. Fang appears to have confirmed the authenticity of the alleged screenshots while stating, "trolling about it was juvenile, but in reality I've never harmed a fly." The NFT artist stepped down from the team thereafter.
Despite controversies, Milady has remained popular across Web 3 communities. In addition to being promoted by Elon Musk, Su Zhu, co-founder of bankrupt Singaporean hedge fund Three Arrows Capital, is an avid collector of Miladys and frequently shills the collection to his followers. The collection currently has 39,659 ETH in cumulative volume traded on OpenSea.
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