Milady memecoin surges 5,250% after Musk tweet, exchange listings

🚀Crypto Fear/Greed today


On May 11, Milady (LADYS.X), the self-organized memecoin of the namesake anime avatar nonfungible tokens (NFT) collection, surged by over 5,250% within 24 hours to trade at a $0.0000001528 at the time of publication.


The day prior, American business magnate Elon Musk tweeted a meme using the imagery of a Milady NFT, sending the average Ether sale price of the collection soaring.



CRYPTO Lab analysed in real-time posts and conversations from social media platforms and calculated a polarity score of +0.72 (Extreme Greed), placing the memecoin at #1 in the top 10 greed section.

Bullish was at 72.5% (margin error ± 7.9% at 95% confidence), Bearish at 0.81% (margin error ± 1.6%) and Neutral at 26.6% (margin error 7.8%), according to the selected time frame (24 hours).

Getting Started with CRYPTO Lab


Memecoins

One reason for the recent popularity of memecoins is the rise of social media and internet culture. Memes have become a significant part of online communities, and memecoins are a natural extension of this trend. Another reason for the popularity of memecoins is the desire for quick profits. While other coins like Bitcoin and Ethereum can take time to appreciate in value, memecoins can see significant gains in a short amount of time.

Investing in meme coins can be a tempting high-risk, high-reward proposition. However, it’s crucial to keep in mind that these coins are driven by hype and social media and are incredibly volatile. While some investors have made significant gains by investing in meme coins, many have also suffered significant losses due to their unpredictable nature. This can make them risky investments and may not be suitable for everyone, particularly those who are risk-averse.



Disclosure
This information does not constitute any form of investment advice and it should not be used to make any investment decision. Conduct your own research by contacting financial experts before making any investment decisions.