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The meme coin revolution is far from over as a sparkling new token, Milady Meme Coin (LADYS) has printed a 12,056% upsurge to $0.0000001341 in a rare debut for such digital currencies. Springing to life from anonymous developers, Milady is becoming the subject of various theories on Twitter, including a subtle connection to Elon Musk.
According to crypto analytics provider Lookonchain, an address was created about an hour before Elon Musk shared the tweet shown below.
— Elon Musk (@elonmusk) May 10, 2023
The address acquired a total of 8 trillion LADYS tokens at an average price of $0.000000005652. The funds used for the purchase were the 25 ETH worth approximately $45,362 based on the current price of Ethereum. As pointed out by the data service provider, the address did not make any other purchases as of the time of writing.
Since the LADYS token highlight was shared, a number of high-profile Venture Capital firms have also taken sizable positions in the meme coin. These token has recorded a more than $138 million trading volume over the past 24 hours, atop a market capitalization of more than $108 million at the time of writing.
Reviving meme coin hype
Meme coins have been at the center of the latest bullish rally in the digital currency ecosystem today. With BONK starting the hype earlier in the year, PEPE swiftly took over the spotlight as more awareness of the potential of this asset class to chart massive, life-changing gains became a reality to many retail investors.
As it stands, the hype, which appears to be wanting, is now being revived by LADYS and, in the long term, we may see other meme coins recover their respective prices. Many in the industry are watching LADYS, and some are gearing up to go all in following its recent listing on MEXC Global marketplace.
Vladislav Sopov