26 Trillion LADYS Worth $3.7M On Exchanges, Warning Investors Beware

Key Points:

• On-chain data shows that 9 addresses moved 26 trillion LADYS tokens to exchanges.
• Memecoin really exploded 5,250% after tweet of highly influential billionaire in the crypto industry Elon Musk.
• The token has grown in popularity after many major crypto exchanges listed it on May 11.

On-chain analyst Lookonchain tweeted that 9 suspicious addresses transferred a total of 26 trillion LADYS (worth $3.7 million) to the exchange yesterday. This can be an alarm of token dumping after the time investors achieve desirable profits.

Previously, the analyst also found that up to 42 suspicious addresses are currently holding 205 trillion LADYS, worth about $19 million, accounting for 23% of the total supply that has moved all tokens held to new address 10 hours ago.

On May 11, Milady (LADYS), the self-organizing memecoin of the nonfungible token collection (NFT) of the anime character of the same name, surged over 5,250% within 24 hours to trade at $0. 0000001528 after an unexpected share by avid Dogecoin fan, billionaire Elon Musk.

Until the beginning of this week, the token was only available on the Uniswap decentralized exchange. The token increased in popularity after many major crypto exchanges listed it on May 11. Some exchanges, such as Bybit, have offered a LADYS prize pool to incentivize coins. send. Others, such as Bitget, seem to remain true to the meme nature of LADYS in supporting its listing decision.

Currently the token is showing signs of cooling off as its price has dropped more than 50% to $0.00000006952 and has led to a market cap drop from $140 million to $50,938,018.

Memecoins have always been an area of venture capital in the crypto industry. The nature of the price increase of the memecoin comes from the hype of the community. Therefore, even though it can reap huge profits in a short time, for slow-moving investors it is a warning of loss.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.

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