- Milady Meme Coin has revived the meme season narrative in the crypto ecosystem yielding 11,885% gains for holders overnight.
- LADYS gained popularity with Twitter CEO Elon Musk’s recent tweet and the token’s 24 hour trade volume is nearly half that of PEPE.
- A large wallet address that acquired PEPE and LADYS has booked upwards of 35 times gains on each, according to on-chain data.
PEPE, the meme coin inspired by “Pepe the frog meme” gained popularity in the crypto community after yielding nearly 615% gains over the past two weeks. A newly launched meme coin Milady (LADYS) rallied 11,885% overnight, and PEPE whales bought the token in large volumes.
Also read: MATIC price poised for recovery with 52% increase in total value locked on Polygon’s bridge
Milady Meme Coin price rallies 11,885% in a 24-hour period
PEPE’s massive popularity and three-digit gains for holders fueled the “meme coin season” narrative where capital rotates from Bitcoin, Ethereum and mainstream assets into meme tokens.
PEPE experienced a pullback since its explosive price rally, declining 62% from its May 5 all-time high of $0.00000431. Newly launched meme coin LADYS has replaced PEPE as the token yielding massive gains for holders.
LADYS hit a peak of $0.00000017 before retracing to $0.00000012 at press time.
LADYS/WETH 15-minute price chart
The meme coin garnered mass support after a tweet from Elon Musk. The tweet features a Milady NFT, one of the 10,000 NFTs created in 2021 by digital arts collective Remilia.
— Elon Musk (@elonmusk) May 10, 2023
The Milady Meme Coin has no affiliation with the NFTs, however the similarity in the names of the two projects fueled a bullish sentiment among LADYS holders.
PEPE whales make 35x gains on LADYS
PEPE’s large wallet holder addresses bought LADYS and sold the token at 35 times gains according to on-chain data from crypto intelligence tracker Lookonchain.
On-chain data of whale transactions
Analysts gathered the on-chain data supporting the purchase of PEPE and LADYS by a whale wallet address that gained 36x on PEPE and 35x on LADYS.
LADYS is a relatively new meme coin and the project is not listed on centralized crypto exchanges yet. Binance CEO Changpeng Zhao (CZ) has previously warned traders regarding the risks associated with new meme coin projects with relatively small market capitalization.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Bitcoin Price Forecast: Analysts anticipate increased volatility as the US presidential election looms
Bitcoin price teased its all-time high of $73,777 last week but declined to trade below $69,000 on Monday. Analysts suggest that market volatility is expected to rise as the US presidential election approaches.
Litecoin poised for double-digit decline after breaking ascending trendline
Litecoin breaks and closes below an ascending trendline, signaling a change in market structure. On-chain metrics paint a bearish picture, as LTC’s dormant wallets are active, and the NPL indicator shows a negative spike.
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC, ETH and XRP decline ahead of US elections
Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) all faced resistance at crucial levels ahead of the US Elections, leading to a price decline. As of Monday, they neared key support levels, and a firm close below these marks could signal further declines.
21Shares files S-1 for XRP ETF amid ongoing tension between Ripple and SEC
21Shares filed an S-1 registration with the Securities and Exchange Commission (SEC) on Friday for an XRP exchange-traded fund (ETF). While the chance of approval is slim with the current SEC administration, the landscape could change after the upcoming elections.
Bitcoin: New all-time high at $78,900 looks feasible
Bitcoin price declines over 2% this week, but the bounce from a key technical level on the weekly chart signals chances of hitting a new all-time high in the short term. US spot Bitcoin ETFs posted $596 million in inflows until Thursday despite the increased profit-taking activity.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.