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- Elon Musk’s post brought a massive surge in memecoin.
token investors were observed to change direction.
A massive surge was seen in a newly emerged memecoin today. It was found that PEPE token investors invested in this memecoin.
Is This Newly Emerged Memecoin Connected to Elon Musk?
PEPE investors are now turning to a new cryptocurrency that is said to be connected to Twitter CEO Elon Musk. According to blockchain analytics, a sudden shift in focus was confirmed in a tweet this morning. The new token that caught the attention of PEPE investors is called Milady Meme Coin (LADYS).
Blockchain data revealed that some addresses noticed a change in PEPE positions for LADYS. So far, it has been discovered that a few investors have plunged large funds to buy the new trend memecoin. One address bought 292 billion PEPE with 54 Ethereum (ETH) worth $101,000 at the time. Later, they sold the PEPE they held for 288 ETH equivalent to $532,000, leaving them with approximately $430,000 in profit.
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With the arrival of LADYS, the same address bought a large amount worth 7.5 trillion at the current price of approximately $1.18 million. The token’s current market price is $0.0000001567 and has recorded an increase of more than 12.122% in the last 24 hours.
There is a subtle connection between Musk and memecoin, especially since he shared a picture of a lady-like cartoon character saying “No Meme, I Love You” on Wednesday. At the same time, an address was found to have been created one hour before the post was shared.
This particular address withdrew 25 ETH from Binance and bought 8 trillion LADYS for $0.000000005652 each. Surprisingly, the wallet did not make any other purchase after buying LADYS. Since the memecoin started to fluctuate, many other investors have started to pour their funds into this venture. In the last 24 hours, the token has already recorded a trading volume of over $138 million and a market value of over $125 million.
Amidst this extraordinary revolution of memecoins, some crypto advocates are still skeptical about the possibilities of fraud.