​LADYS meme token rises in price by 12 000% in 24 hours. Why did this happen

What’s new? On May 11, the price of the meme token Milady Meme Coin (LADYS) rose by 12 000% in 24 hours to $0,000000171079, according to aggregator CoinGecko. The daily trading volume amounted to $155,68 million, while the market capitalization of the asset reached $142,11 million. LADYS token listing has already been announced by a number of major exchanges.

Token page on the CoinGecko website

About the project. LADYS is a meme token of the Milady NFT collection, consisting of stylized images of girls with different hairstyles and clothes. Currently, holders of Milady NFTs and PEPE tokens can claim a total of 8,880,008,880,008.88 LADYS (1% of the issue). All tokens, the right to which users will not present until May 15, 09:00 UTC will be burned.

Why did the rate rise? A sharp jump in the value of LADYS by about 10 000% occurred on May 10 after Elon Musk published a tweet with an image of the project’s girl mascot and the inscription “There is no meme. I love you.”

pic.twitter.com/4s6HwnCY74 — Elon Musk (@elonmusk) May 10, 2023

Another factor in the growth was the purchases of the token by large PEPE holders:

The first address bought 292 million PEPE for 54 ETH ($101 000) and sold for 288 ETH ($532 000), a profit of 234 ETH ($430 000). The user bought a total of 7,5 trillion LADYS ($1,18 million) at an average price of $0,00000004133.

The second address bought 5,23 trillion LADYS ($823 000) for 246,6 million PEPE ($423 000) and 320 million CrazyPepe ($18 000). The average purchase price was $0,00000008428.

The third address sold 257,6 million PEPE for 244 ETH ($448 000) at $0,000001741. And bought 4,87 trillion LADYS ($767 000) for 230 ETH ($421 000) at $0,00000008647.

LADYS’ growth may also have been influenced by listing announcements on major centralized exchanges (CEXs) including Gate, Huobi, Bybit, and Bitget.

Address blocking. According to analytics company Lookonchain, the developers of Milady blacklisted the three largest LADYS owners at once. As a result of this move, they will not be able to sell their tokens.

1/ The developer of #Milady added the top 3 holders of $LADYS to the Blacklist.And the top 2 holders (excluding Blacklist and developer addresses) of $LADYS both seem to belong to DWF Labs.DWF Labs became the largest holder and currently holds 30.6T $LADYS ($1.9M). pic.twitter.com/tJxz1HUlUy — Lookonchain (@lookonchain) May 11, 2023

Suspicious features found in PEPE meme token's smart contract

The CoinMarketCap aggregator also added a note about the possible danger of the asset but later deleted it

Read further

Analysts pointed out that after the blacklisting of addresses, the project’s developers and DWF Labs, a digital asset development and Web 3.0 investment company, became the largest holders of LADYS. The latter holds 30,6 trillion tokens worth about $1,9 million in its account.

Hype around meme tokens. From May 1 to May 7, meme token trading volume amounted to $2,3 billion, a record high in two years. The most popular asset became PEPE, three weeks after its launch, on May 5, its capitalization reached $1,82 billion. The excitement around PEPE spurred the growth of assets DINO, WSB, CHAD, and 4TOKEN, which rose by several hundred percent over the past two weeks.

On May 2, the rate of the WOJAK meme token jumped by 570% over the week, hitting an all-time high of $0,00065.