- Milady Meme Coin was one of the top-performing meme coins.
- Now, the token has collapsed, and many investors are left holding the bag.
Meme coins have been a major theme in the cryptocurrency market this year. This trend started in January when Bonk, a Solana-based meme coin surged. It then continued after the launch of Pepe, a token that created several millionaires as its market cap surged to over $1 billion at its peak.
What is Milady Meme Coin?
The growth of Bonk and Pepe incentivised more developers to launch their own meme coins in a bid to make a killing. Milady Meme Coin, popularly known as LADYS, was one of those meme coins. At its peak, LADYS had a market cap of over $100 million and was one of the most popular tokens among traders.
Milady, like other meme coins, had no role or intrinsic value. That is not a mere allegation but a fact, as stated in the website, as shown below.
“$LADYS is a meme coin with no intrinsic value or expectation of financial return. There is no formal team or roadmap. The coin is completely useless and for entertainment purposes only.”
It is not rare for cryptocurrencies with no major utility value to grow and become popular. Think of some of the most popular meme coins like Shiba Inu, Dogelon Mars, and Floki Inu. While some of these ones are building an ecosystem, most of them have no utility value.
Read more: How to buy Shiba Inu.
What happened to LADY?
A common question is on what happened to Milady Coin after itss spectacular performance a few months ago. The answer is that it has become a useless token with no major happenings. Its Twitter page has gone mute, with no new post since June 15. Most meme coin creators use Twitter - or X - to communicate with their fans and deliver useful updates.
At the same time, Milady’s price has collapsed to a record low even as Pepe hangs on. Data shows that LADYS was trading at $0.00000027, which was over 99% below its all-time high. The total market cap of the token stands at just $27k while the 24-hour trading volume was just $484.
This means that Milady has become worthless. It also implies that the token was a scam, which is in line with what I wrote here. As such, people who bought it during the hype period were left holding the bag. Unfortunately, the same fate awaits many people who bought tokens like Keke, Mrs Pepe, Landwolf, DOGE CEO and AI-X.
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