Sirwin
Sirwin

With 4000% of profit, is this the LADYS night?

By Crypto4you23 | Cryptoanswers22 | 12 May 2023


Elon Musk has struck again, with a tweet from the billionaire owner of Twitter causing the value of a memecoin and a collection of non-fungible tokens (NFTs) to surge on Wednesday (10th).

The meme cryptocurrency in question is known as Milady Meme Coin (LADYS), while the NFT collection shares the same name.

This is not the first time Musk's social media activity has had a significant impact on the cryptocurrency market, with his tweets frequently causing particular coins to soar in value. The Milady Meme Coin and NFT collection are just the latest examples of this trend.

While some investors view Musk's tweets as a compelling reason to invest in specific cryptocurrencies, others are critical of his sway over the market. There are concerns that it is irresponsible for someone with such a vast following to make statements that can have a significant impact on people's investments.

Despite the debate surrounding his tweets, there is no denying Musk's influence on the crypto market.

As the world becomes more digitally-oriented, the role of cryptocurrency is set to become increasingly vital, and Musk's involvement in this space will undoubtedly continue to attract attention in the future.

Just like always, people on the internet quickly reacted to what Elon Musk said, and Milady NFT sales went up by 500% in no time.

Plus, the lowest price of the digital stuff went up by over 50%, going from 3.75 ETH to 5.25 ETH, according to NFT Price Floor.

At the same time, the price of the memecoin with the same name skyrocketed from R$ 0.00000001271 to the highest price ever (ATH) of R$ 0.000000853457. 

But still, CoinGecko says the memecoin is growing by around 5,000% every day.

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