TeslaTSLA billionaire and Twitter owner Elon Musk has a long history of boosting the price of various cryptocurrencies—not least his “fav” bitcoin rival dogecoin that’s been overshadowed recently.
The bitcoin price has been left in the dust by a handful of so-called memecoins in recent weeks as traders pile into viral cryptocurrencies that are designed to climb with the amount of attention they get.
Now, a new cryptocurrency linked to the milady non-fungible token (NFT) collection has seen its price rocket 5,000% after Musk posted a meme to Twitter that featured one of the NFT avatars.
It’s at the beginning of a bull run you need up-to-date information the most! Sign up now for the free CryptoCodex—A daily newsletter for traders, investors and the crypto-curious that will keep you ahead of the market
“There is no meme, I love you,” the text on the anime-style image Musk posted to Twitter read, with the price of the newly-created milady meme coin climbing sharply in the 24 hours since.
The milady maker NFT collection was pushed to the top of the NFT marketplace OpenSea’s trending section with the “floor” price—the lowest price for any NFT in a collection—surging to almost $14,000 before falling back.
The milady NFT collection—made up of 10,000 profile picture NFTs in what’s described as a “neochibi aesthetic inspired by street style tribes”—saw price volatility last year after its creator was linked to a Twitter account that had shared racist and abusive tweets.
Sign up now for CryptoCodex—A free, daily newsletter for the crypto-curious
Various viral memecoins, including the Pepe the frog-based pepe and dogecoin-inspired floki, have seen huge rallies in recent weeks, helped by a shock Binance announcement.
Follow me on Twitter.
