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- The aftermath saw a rise from a low of 3.75 ETH ($6,920) to a peak of 5.70 ETH ($10,371).
- The trading volume for Milady NFTs experienced a remarkable increase of 500%.
On Wednesday, Elon Musk shared a meme featuring the well-known character from the NFT collection, accompanied by the phrase “There is no meme, I love you.” This tweet amused many holders of Milady NFTs. Consequently, the base price of the digital collectible on the OpenSea platform soared to new heights.
pic.twitter.com/4s6HwnCY74
— Elon Musk (@elonmusk) May 10, 2023
Data from the primary NFT marketplace indicated that the collection’s entry-level price surged from a low of 3.75 ETH ($6,920) to a high of 5.70 ETH ($10,371) on cryptocurrency markets. Information gathered by Wednesday afternoon revealed that the trading volume of Milady NFTs had increased by 500% in the last twenty-four hours, with the floor price rising by more than fifty percent.
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Not the First Time For Musk
The Milady meme represents the latest instance, but it is not the first occasion where Musk has leveraged Twitter to influence the value of digital assets. Following Musk’s alteration of the Twitter logo to feature the Doge icon, Dogecoin’s price saw an uptick over the past month. Musk has consistently expressed his fondness for DOGE and has frequently impacted prices through his distinctive methods of endorsing the meme coin.
The Milady NFT collection has been embroiled in several recent controversies. In May 2022, after Charlotte Fang, the creator of Milady Maker, disclosed that she had utilized a fake Twitter account to post racist and offensive tweets, the value of the NFTs fell sharply.
Approximately 9,823 NFTs characterized by features resembling young children and large, anime-style eyes are categorized as Miladys, a segment of the profile-pic (PFP) NFT collection.
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