A Milady coin launched shortly after Elon Musk tweeted a Milady NFT image – has seen its price pump 700% in its first hour and a half of existence. The new $NOMEME coin is trading at $0.0007525 on decentralised exchange Uniswap, quickly amassing a trading volume of $12 million.
$NOMEME has an impressive liquidity of $4.5 million too and analysts are already talking up its 100x returns potential. In Musk’s tweet he overlays the NFT image with a caption reading: “There is no meme – I love you”. It was a typically cryptic comment by Musk, or perhaps not cryptic at all.
Maybe Musk just likes the collection. It is a typically mysterious tweet, which is fitting for the Milady NFT collection, surrounded as it is by mystery. The collection is thought to be the work of the New York based Remilia art collective.
Not surprisingly perhaps, Elon Musk’s tweet has sent Milady NFT prices through the roof. The MIL floor price is a whopping $10,575, or 5.7134 ETH at the current exchange rate. The Milady Maker NFT collection’s value has shot up by 54% on top NFT marketplace Opensea.
— Elon Musk (@elonmusk) May 10, 2023
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Elon Musk is well known for his role in pushing up the price of meme coins Dogecoin and Shiba Inu, so fast-moving crypto engineers and teams are showing great agility in promptly taking advantage. It is not known who is behind $NOMEME, but it was launched at 19:00 UTC, within three hours after Musk posted his tweet.
Those in the know who watch the latest hot trends in the crypto market will have moved quickly to seize this opportunity for gains that could bring token owners astronomic returns. $NOMEME immediately raced ahead to kill a zero, breaking through $0.0010 an hour into the start of trading.
$NOMEME news spreading like wildfire
As news of the coin’s existence spreads, expect early price action to see its price rapidly appreciate. Such is Elon Musk’s influence – his Milady tweet has been viewed 15.6 million times already and liked 141,500 times – the “NoMeme” news is spreading like wildfire across the internet, and so too is buying interest in $NOMEME.
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By recent standards, Ethereum gas fees are currently a reasonable $20 or so as opposed to the $90 or more seen last week.
Will Milady-branded coins and No Meme skits provide the basis for a whole new breed of coins and become the ‘cancel culture’ kryptonite that extinguishes the Pepe and $SPONGE meme coin new wave? Probably not. Whatever the immediate outlook of meme coins, $NOMEME is already providing another magnetic pole of attraction for speculative funds flowing into the crypto space.
It is not the only player in town either. Milady Meme Coin is another Musk-inspired token and it is up massively too, by 5,400% to $0.00000007964. Sources within the crypto industry say the smart money is on $NOMEME to more than match those returns in the coming hours and days.
