Is Elon’s $LADYS Dead? The Token has dropped 94% Since Peak

Meme coin Milady (LADYS) entered the crypto market in spectacular fashion, enlisting on major exchanges and garnering attention quickly. However, the prolonged bear market, which has hit every corner of the crypto world, has equally affected the token’s performance.

Data from CoinMarketCap shows that the token’s price sits at $0.00000003932, a 2.51% decline in the past 24 hours. Within the same period, its trade volume also declined by 17%. The token currently has a total trade volume of $34.84 million.

However, the weekly price chart shows the token has added a 20% gain in its price. Furthermore, the token has added a more impressive 46% in the last month. This positive performance is surprising, considering the foul mood of the crypto market since the start of the month.

While it has recorded positive performances lately, the price and market cap are miles away from its all-time high. Since its peak performance, the token has shed 94% of its price. That means people who bought the token then are holding it at a loss.

Inspired by an NFT collection, the meme coin rose to quick fame in the market in May 2023. According to the creators, the token is “simply paying homage to an NFT collection we all love and recognize”.

Aside from the hype that accompanied its launch, Elon Musk also tweeted a meme using the imagery of a Milady NFT. As previously seen with DOGE, the tweet resulted in a pump that skyrocketed the sales price of the token and NFT collection.

At the height of its popularity, the meme coin’s market capitalization surpassed $140 million. In May, the token’s trade volume soared over $1 billion.