Elon Musk Tweet Propels Milady Floor NFT Prices
A recent tweet from Twitter chief executive Elon Musk compelled the price of Milady’s nonfungible collection to gain bull steam and soar above 3000% over an hour. Musk shared a unique image with a meme-themed Milady coin.
The image was accompanied by a slogan: “There is no more meme. I love you.” After posting the Milady image, it was reported more than 4 million Twitter users viewed Musk’s post.
Factors Contributing to Milady Price Increase
Musk’s post triggered the Milady prices to gain a steady uptrend, creating excitement and enthusiasm among crypto investors and NFT holders. Per data from the NFT Price Floor, it was observed that the entry-level price of the digital collectible on the secondary market surged from 3.75 Ether to 5.25 ETH, which is equivalent to $6,920 and $9,700. The surge translated to a 57% increase over the last 24 hours.
Following the notable price increase, crypto experts have predicted that the price might increase further. They also admitted that Musk’s post gave the Milady NFT a starting point to establish an upward trend.
The May 10 increase in Miladys’ prices mirrors a recent post from Musk that compelled the dog-meme themed coin Dogecoin price to break the prolonged resistance level. A report from the America crypto exchange OpenSea illustrated that more than 600 NFTs with a distinctive collection tune of 3700 ETH, which amounts to $6.9 million, were the latest purchase.
The sale was ranked among the best after a long time.Besides Musk’s promoting Milady token, the co-founder of the now defunct hedge fund Three Arrow Capital (3AC) had previously urged the customers to invest in the digital collectible.
Even though Milady has been a center of controversy since last year following a pseudonymous tweet linked to a project known as Charlotte Fang, Remilia, and Charlie Fang. In May, it was observed that the price dipped further after Fang shared inappropriate content that promoted racism.
Nature of Musk’s Tweet
Commenting to the multiple questions from the NFT holders concerning the tweet, the chief executive of Milady admitted to sharing abusive content on Twitter. Later he revealed plans to exit the firm.
Besides Fang’s tweet, the NFT has been labeled as a wartime meme by traders and the crypto native community. The Milady NFT has been gaining popularity due to the unique profile pic (PFP).
The digital collection comprises 9823 NFTs with a child’s face and a big eye. In the meantime, the Milady token has given memes a new power and exhibited enormous capability to create social currency.
Reportedly, the race to dominate the meme world inspired me to seek CEX listing. On Tuesday, the Milady team announced plans to be listed on CoinGecko.
Milady Market Outlook
In an earlier report, the Milady developers vowed to allocate a significant amount of their revenue to support projects on women empowerment and gender equality. This move supported a large number of social investors.
According to DWF Labs data, the investors have completed over 15 million purchases of Milady native token $LADYS. The DWF experts observed that the crypto investors purchased 13.53 Ethers (ETH), amounting to $25000 as of this writing.
The massive purchase signaled that the investors were more interested in the Milaldy token. At press time 02:45 UTC, the LADY coin was exchanging hands at $0.00000007019 after increasing by 6449.86% in a day.
The CoinMarketCap data illustrated that in the last 24hrs, LADY prices have hovered below $0.00000009505. The trading volume reached $84,397,261, a 9616.96% surge over a day.
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