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Milady memecoin experiences a 5,250% increase following Musk’s tweet and new exchange listings.
On May 11, Milady (LADYS), the community-driven memecoin associated with the anime avatar nonfungible tokens (NFT) collection of the same name, experienced a remarkable increase of over 5,250% within a 24-hour period, reaching a trading price of $0.0000001528 at the time of this report. The previous day, American entrepreneur Elon Musk shared a meme featuring a Milady NFT, which caused the average Ether (ETH) sale price of the collection to skyrocket.
As stated by the token developers, LADYS has “no connection” to Milady creator Charlotte Fang or Milady Maker. The token “is merely a tribute to an NFT collection we all admire and acknowledge.”
“$LADYS is a meme coin with no inherent value or anticipation of financial gain. There is no official team or roadmap. The coin serves no practical purpose and is intended solely for entertainment.”
Nonetheless, investors have discovered that LADYS represents more than mere meme value. At the time of this report, the total diluted market capitalization of the token exceeded $140 million, with a 24-hour trading volume of $230 million. The token’s website indicates that the total supply of LADYS is 888 trillion. The website further clarifies:
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“94% of the tokens were allocated to the liquidity pool (LP). LP tokens were burned, and the contract has been renounced.”
Until earlier this week, the token was exclusively available on the decentralized exchange Uniswap. Its popularity surged after several prominent cryptocurrency exchanges listed it on May 11. Some exchanges, like Bybit, provided LADYS prize pools to encourage deposits. Others, such as Bitget, appear to have embraced LADYS’ meme essence in their listing rationale:
“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 merely the memetic vehicle where the infinite power of love converges with the limitless potential of tokenization.
Thank you to all our exchange partners who have listed $LADY today. pic.twitter.com/CE8qudznN1— Milady (@miladymemecoin) May 11, 2023
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