Amid the meme coin frenzy, PEPE falls and milady NFTs surge, fueled by Elon Musk’s intriguing remarks, revealing a captivating dance between meme culture and digital finance.
The world of meme cryptocurrencies has been taken by storm as PEPE, the meme coin named after the popular internet meme character Pepe the Frog, continues to surge on the digital market.
The token has seen a rapid ascent in trading volume and market capitalization following its listing on significant cryptocurrency exchanges like OKX, Huobi, and Binance’s Innovation Zone and derivatives exchange.
In the span of a week, PEPE has surged over 1,200%, outperforming leading cryptocurrencies such as bitcoin and ethereum. This performance is particularly noteworthy considering the token’s lack of utility, yet it has held its ground with a dedicated fanbase who have driven the impressive performance of these meme coins.
Despite this meteoric rise, the future of PEPE seems uncertain. The number of holders intent on retaining their PEPE tokens has plateaued, sparking concern about the token’s prospects in the coming days.
Meanwhile, the milady coin, a cryptocurrency aiming to empower women, has experienced an extraordinary surge in price. The coin’s value increased by more than 3,000% following a tweet from Tesla and SpaceX CEO Elon Musk.
The tweet sent ripples across the trading community, with traders predicting significant gains in the foreseeable future.
The creators of the milady coin have also made it clear that a portion of the coin’s profits will go towards supporting women’s empowerment and gender equality initiatives. This noble cause, coupled with the recent purchase of 15 trillion milady meme coins for 13.53 ethereum (roughly $25,000) by DWF Labs, has significantly piqued investor interest in the cryptocurrency.
Non-fungible tokens (NFTs) linked to the milady coin have also seen a substantial rise. The price floor for these NFTs went from 3.29 ETH on May 8 to 4.47 ETH today, marking a significant increase in just a matter of days.
On the other hand, over the last 24 hours pepe’s price has fallen by 16.26% from $0.0000019 to its current price of $0.000001577. This correction presents a stark contrast against the backdrop of meme coin mania, demonstrating the volatility and unpredictability of the meme coin market.
These developments in the meme coin and NFT markets underscore the increasing influence of social media and online communities on digital finance. The tweets from influential figures like Elon Musk can cause major shifts in the market, while dedicated fanbases can drive the performance of tokens with little to no intrinsic value.