Forget Pepe Coin, This Meme Coin Is Skyrocketing 7300%, Thanks To Elon Musk

Benzinga · 05/11/2023 03:46

Milady Meme Coin (LADYS) has witnessed a meteoric rise of 7300% in just 24 hours after a tweet by billionaire entrepreneur Elon Musk.

What Happened: The tweet featured a character from the Milady Maker NFT project and the caption “there is no meme, I love you.” 

With a reach of almost 21.5 million people, the tweet garnered over 178,000 likes and more than 17,000 retweets and quote tweets.

It should be noted that Musk has supported meme coins in the past. He has tweeted about Dogecoin (CRYPTO: DOGE), which went rallying in 2021.

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Why It Matters: The Milady Maker NFT project also witnessed a surge in sales volume in the past 24 hours, with an increase of 4,781.99% to $8.4 million, according to NFT data website Cryptoslam. 

This made Milady Maker the top NFT by sales volume for the week, with sales totaling $11.22 million, up 261.3% from the previous week.

The frenzy around meme coins continues to grow, with Pepe Coin (PEPE) launching just two weeks ago and already making it to the top 100 largest cryptocurrencies. After surging by 8000% in a week, PEPE’s market cap currently stands at $582 million. However, the latest trading price shows a 9.70% drop, with PEPE trading at $0.000001834.

Price Action: At the time of writing, Milady Meme Coin was trading at $0.00000006944.

Read More: Bitcoin, Ethereum, Dogecoin Tumble Despite Inflation News: Analyst Sees Altcoins Bleeding Against Apex Crypto In Massive ‘Reckoning’