The Elon Effect: How One Tweet Sent Milady NFT and Meme Coin Soaring

The Elon Effect: How One Tweet Sent Milady NFT and Meme Coin Soaring


On the 11th of May, the Milady NFT collection experienced a remarkable surge of around 5,250% in a single day, resulting in a trade value of $0.0000001528. 

This boost was due to a tweet from Elon Musk on May 10th, the day prior.

The Miladys are a collection of PFP (NFTs) that showcase a series of 9,823 illustrations portraying young, innocent-looking faces with large eyes. 

However, the creator of the project, who goes by the names Remilia, Charlotte Fang, Charlie Fang, or Charlemagne, has faced criticism and controversy due to the sharing of offensive slurs and the spread of conspiracy theories.

Even though Milady is associated with it, the LADYS memecoin developers assert that there is no relationship with Charlotte. In reality, LADYS is viewed as a memecoin without any inherent value and should not be viewed as an investment for financial gain. 

There is no official team or roadmap for the coin, and its sole purpose is for entertainment.

However, investors hold a different perspective, believing that LADYS has value beyond its meme status.

Initially, LADYS was only accessible on Uniswap, but it has gained significant popularity since then, with several other crypto exchanges listing it on May 11. Bybit even offered LADYS prize pools to stimulate deposits. While some exchanges, such as Bitget, have focused on the coin's meme status, others have supported its listing decision.

The Dark Side of Greed: BEN and the Birth of PSYOP

In the midst of the emergence of new meme-based cryptocurrencies like PEPE, TURBO and WOJAK, popular crypto influencer Ben Armstrong, also known as @Bitboy_Crypto on Twitter, has publicly declared his support for the BEN coin.

BEN/WETH on Uniswap

Interestingly, the $BEN meme token was recently added to Coinmarketcap and Coingecko, both of which are backed by Binance, resulting in a significant increase in its global presence.

Although the influencer clarified that he did not create the BEN meme token, as it was developed for a group known as BEN DAO, he confirmed that he holds some of the BEN coins in his portfolio. In his statement, Bitboy acknowledged that the creation of the BEN coin was meant to be a fun initiative.

I want to make it clear that I didn't create this coin. It was developed by a group called Ben DAO, which is made up of people named Ben. However, I do own some of the BEN coins in my portfolio. This was just meant to be a fun thing. Are we having fun yet?

Bitboy stated.

Until, on May 12, Bitboy took over.

In a surprising turn of events, ben.eth who previously promoted the BEN token has now shifted their focus to a suspicious cryptocurrency called PSYOP.

Despite previous warnings and evidence of past scams, millions of dollars have been invested in PSYOP in just a matter of hours. Currently, the total amount invested in PSYOP has skyrocketed to over $5 million.

SMM and Writer at Redlion, Web3 enthusiast since 2017

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