Cryptocurrencies, blockchain, NFT and new trends

Milady memecoin surges 5,250% after Musk tweet, exchange listings

The market capitalization of the LADYS token has surpassed $140 million after surging in popularity.

Milady memecoin surges 5,250% after Musk tweet, exchange listings

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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.”

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:

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: