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On May 11, Milady (LADYS), a self-organized memcoin from the non-fungible token (NFT) collection of the anime avatar of the same name, surged over 5250% within 24 hours to trade at $0.0000001528 at press time. The day before, American business mogul Elon Musk tweeted a meme of Milady’s NFT, causing the collection’s average selling price of ether (ETH) to skyrocket.
According to the developers of the tokens, LADYS has “no relation” to Milady creator Charlotte Fang or Milady Maker. The token “simply pays homage to the collection of NFTs that we all love and recognize.”
“$LADYS is a meme coin with no intrinsic value and no financial return. There is no official team or roadmap. The coin is completely worthless and is for entertainment purposes only.”
However, investors have discovered that LADYS represents more than just meme value. At press time, the total diluted market cap of the token exceeded $140 million, with a 24-hour trading volume of $230 million. According to the website of the token, the total supply of LADYS is 888 trillion. The site further explains:
“94% of the tokens were sent to the liquidity pool (LP). The LP tokens were burned and the contract terminated.”
Until the beginning of this week, the token was only available on the Uniswap decentralized exchange. The popularity of the token skyrocketed after it was listed on several major cryptocurrency exchanges on May 11. Some exchanges, such as Bybit, have offered LADYS prize pools to encourage deposits. Others, such as Bitget, seem to have stayed true to the LADYS meme nature, backing their listing decision:
“LADYS is the tokenization of a fully memetically optimized white pill. LADYS is a self-organizing meme-coin. LADYS is a drip currency. LADYS are points for karma, charm and beauty. LADYS is about the accumulation of influence.”
Love is eternal. Love is unstoppable.$LADYS is nothing but the memetic vehicle where the infinite power of love converges with the boundless potential of tokenisation.
Thank you to all our exchange partners who have listed $lady today. pic.twitter.com/CE8qudznN1
— Milady (@miladymemecoin) May 11, 2023
