Holders of a cryptocurrency that has grown by 39,000% buy a new token

Experts from the Blockchain analytical company Lookonchain have noted that crypto-miners who own the PEPE meme token have become interested in the new Milady Meme Coin (LADYS).

The researchers noted that one address had previously purchased 292 billion PEPE tokens for 54 ETH ($ 101 thousand). Later, the investor sold the previously purchased assets for 288 ETH ($ 532 thousand). As a result, the bidder made a profit of $ 431 thousand. And recently, the same user purchased 7.5 trillion LADYS for a total of $ 1.18 million. It is noteworthy that over the past 24 hours, the market value of the token has jumped by almost 10,000%.

The popularity of Milady Meme Coin (LADYS) began to growafter Elon Musk’s tweet — on May 10, the billionaire posted an image of NFTs from the Milady Maker collection on his account. According to the analytical service Cryptoslam, as a result, sales of digital tokens soared by 2900% and reached $ 7.87 million.

Amid the jump in LADYS value, Huobi, Bidget, Bybit, and Gate. io announced the listing of the token on their platforms. According to CoinMarketCap, the token is currently trading at $ 0.6 645 with a market capitalization of $ 48.7 million. Daily trading volumes amount to $ 204.3 million.

It should be noted that meme tokens are not backed by any valuable asset. Most of them will not be able to become full-fledged cryptocurrencies in the future. Nevertheless, due to the volatile exchange rate, some of them are used as a tool for speculative transactions. The unstable exchange rate of meme cryptocurrencies is, in particular, provoked by the statements and actions of major players in the crypto market.