Recently, Musk has been constantly posting memes on Twitter, causing violent fluctuations in the prices of related NFTs and tokens.
On May 10, Musk shared an animated picture of Milady NFT on his Twitter account, which said "There is no meme, I love you (There is no meme, I love you)".
This NFT series attracted widespread attention from the market, and soon appeared on the popular list of the NFT market OpenSea. After its price reached an all-time high of 7.3 ETH (approximately $13,700), the floor price of the series has now fallen slightly, but still remains at a relatively high level of 3.95 ETH. In the past seven days, the floor price of this series has soared, rising by about 40%. Named Miladys, these NFTs are composed of 9825 big-eyed child faces, showing unique artistic style and creativity. In addition, the series has gained the attention and popularity of many collectors and investors, some of whom believe that these NFTs have high potential value and may increase in value in the future. Overall, the performance of this NFT series is impressive and reflects the vitality and potential of the NFT market.
What is Milady?
Milady is a set of NFTs, whose full name is Milady Maker, and is a collection of profile picture NFTs. The collection consists of 9,823 NFTs with wide-eyed, childlike faces. However, the project has been controversial since its inception. The price of NFTs plummeted in May 2022 after founder Charlotte Fang admitted she was behind an anonymous Twitter account that shared abusive and racist tweets. At the time, Fang said she had taken a step back and was about to quit the team.
Milady’s meme token Lady
Lady is Milady's Meme Coin. Milady Meme Coin (LADYS) is associated with the Milady Maker non-fungible token (NFT) series and has been listed on multiple exchanges, bringing huge traffic and a significant price increase. However, some investors have expressed doubts about LADYS's sudden surge in value. Blockchain tracking platform Lookonchain discovered that a mysterious crypto wallet was created just an hour before Musk tweeted about the meme asset. The wallet withdrew 25 Ethereum (worth $45,362) from Binance to purchase 8 trillion LADYS for $0.000000005652. There were no other transactions from the wallet, prompting speculation that the price increase was manipulative.
Musk drives PEPE
On May 13, Musk tweeted another tweet with a Pepe emoticon. This incident immediately caused a sensation in the digital asset market. According to market data, the price of PEPE quickly rose by about 10% in a short period of time, and increased by more than 50% within 24 hours.
Are PEPE and Milady related?
Recently, a cryptocurrency KOL named @xiaowuDD 666 pointed out that Meme trends such as PEPE were actually hyped by NFT funds, and the earliest recommenders and on-chain addresses on Twitter were related to Milady. Judging from the early addresses of PEPE, there are indeed many Milady holders. For example, the anonymous trader Dimethyltryptamine.eth, who once purchased more than 5.9 trillion PEPE for $263 and made a profit of 10,000 times, holds about 37 Milady. In addition, the earliest ETH in the address of one of the multi-signature wallets that manages 6.9% of the total supply of PEPE comes from holding the Milady derivative project Remilio.
This information shows that there is a close relationship between the Milady series of NFTs and Meme trends such as PEPE, which may also be one of the reasons for the surge in PEPE prices.
After making profits, many PEPE holders said they used their profits to purchase Milady, which also led to the recent surge in the price of Milady NFT. According to NFT Floor price data, the entry-level price of the Milady Maker NFT series in the secondary market rose from 3.75 ETH (approximately $6,920) to 5.25 ETH, an increase of 57% in 24 hours. The price of the series briefly hit an all-time high, rising to 7.3 ETH, before falling back to around 3.95 ETH. OpenSea also reported a significant increase in sales across the market, with the series selling over 600 NFTs in an hour for a total value of approximately $6.9 million, making it one of the best-selling items on the platform.
Moreover, most Milady holders are diamond holders, with more than 77.1% holding it for more than one month, and nearly one-third of those holding it for more than one year. Well-known holders include Paradigm research partner Dave White, AAve founder Stani, former Three Arrows founder Su Zhu, well-known KOL Ansem and NFT social platform Pulsr founder Maxine Ryan, etc. These holders’ long-term holdings and investments in digital assets demonstrate their confidence and optimism in the project and the digital asset market.
In addition to PEPE, Meme coins such as WOJAK and Mememe are also fueled by the Milady community. There is indeed a Memecoin group in Milady Discord, which is only open to holders. This shows that as a community-driven project, Milady Maker’s community heritage and strength cannot be underestimated.
This information shows that Milady Maker's popularity in the digital asset market is increasing, and its holders' long-term holding and investment in digital assets also shows their confidence and optimism in the project and the digital asset market.
Investment Advice
Investing in Meme coins carries high risk and high reward characteristics, so you need to be very cautious. Here are some suggestions:
Understand the project: Before investing in any Meme coin, you need to understand the background, team and community ecology of the project. You should carefully study the project's white paper, roadmap, and social media to understand the project's goals and future plans.
Watch the market: Before deciding to invest in Meme coins, you need to pay close attention to market trends and price fluctuations. You can use a cryptocurrency market tracking app or website to track market dynamics and understand what’s going on in the market.
Diversify: When investing in Meme coins, don’t put all your eggs in one basket. You should diversify your funds into multiple Meme coin projects to reduce investment risks.
Don’t blindly follow the trend: Popular meme coins that appear on social media may be temporary hot spots and may not necessarily represent their long-term value. Rather than blindly following trends, you should conduct thorough research and analysis.
Small investments: When investing in Meme coins, do not invest money that you cannot afford to lose. You should invest small amounts and treat it as a high-risk, high-reward investment.
In short, investing in Meme coins requires a cautious and rational attitude. There is still a high degree of uncertainty and risk in the digital asset market, and investors should conduct comprehensive research and risk assessment to avoid investment losses. In addition, investment in digital assets should be based on comprehensive research and analysis of project fundamentals, community ecology and market trends in order to make more informed investment decisions.