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February 28, 2024
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 New Token Emerges Within the Memecoin Season-PEPE Coin Mania in Acute Danger?

The post  New Token Emerges Within the Memecoin Season-PEPE Coin Mania in Acute Danger? appeared first on Coinpedia Fintech News

After the 2021 bull run, the DeFi’s and NFTs have made a significant impact within the crypto space. In the meantime, the traditional tokens have begun to display a sluggish action as the volume has dropped significantly. Hence, it has become somewhat clear that the mindset of the market participants has been changing as they now grow the intention of making money rather than holding the tokens for long-term gains. 

The emergence and growth of the meme-coins have validated the above as their use cases have been restrictive compared to that of the tokens which are fundamentally very strong. Therefore, now that they have gained mainstream attention, new and primitive tokens are preparing to make huge noise within the markets. 

In recent times, the market witnessed the emergence of PEPE which was rumored to be linked with the Twitter CEO, Elon Musk. However, new data reveals that the traders have now shifted their focus to a new token called Milady Memecoin (LADYS). 

As per a popular on-chain platform Lookonchain, initially, PEPE was purchased with 54 ETH and later sold for 288 ETH and has bought a total of 7.5 trillion LADYS. Besides, 5.23 trillion was bought by another address with 246.6 billion PEPE, and 257.6 billion PEPE was bought for 244 ETH and currently holds 4.87 billion LADYS. 

Yet another mysterious transaction was recorded just before Elon Musk tweeted about LADYS. An address bought PEPE on April 18 and LADYS just before his tweet and gained 36x in PEPE and 35x on LADYS. However, the address continues to hold instead of selling them despite the price rise. 

Besides, the platform also lists the 42 suspicious addresses that are currently holding 205 trillion LADYS which is nearly 23% of the total supply. They all have speculated receiving ETH from the Kucoin exchange to buy LADYS. 

Witnessing all these events, it can be assumed that yet another wave of meme-coin season may be triggered soon, rising the popularity and demand for a new token. 

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