DWF Labs Invests $5M in LADYS, PEPE Emerges as Top-Grossing Coin in May
Sead Fadilpašić
Last updated:
June 3, 2024 10:31 EDT
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4 min read
Stay updated with the latest news in the meme coin world with our weekly, condensed digest.
This week’s highlights include:
Meme Coin News: Market Overview
LADYS Receives $5 Million Investment from DWF Labs
MOTHER Coin Experiences Volatility in Meme Coin Market
PEPE Emerges as the Most Profitable Coin in May, DOGE Whales Purchase $112M in 72 Hours
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Meme Coin News: Market Overview
While the overall crypto market has seen a slight increase in the past 24 hours, the meme coin market presents a more mixed picture.
The meme coin market capitalization currently stands at $66.6 billion, experiencing a decrease of 0.1%.
Among the green coins, GME continues to be the top-performing meme coin, with a 226% increase in a day, now trading at $0.01289.
HABIBI is the second-best performer, rising by 81.3% to reach $0.04063.
When it comes to the red coins, Shark Cat (SC) has experienced a 19% decrease, now valued at $0.08685.
FOXY, BOB, and GIGA have all dropped by approximately 17%.
Notably, only two of the top 10 meme coins based on market capitalization have experienced a decrease today.
TURBO fell by 6.6% to reach $0.00661, while Memecoin (MEME) experienced a decrease of less than 1% to $0.02956.
On the other hand, Floki Inu (FLOKI) is the best-performing coin of the day, with a 7.6% increase, currently trading at $0.00027.
Milady Meme Coin (LADYS) follows closely in second place, with a 6% rise to $0.0000002283.
Several other coins have also performed well, with most experiencing an increase above 1%.
LADYS Receives $5 Million Investment from DWF Labs
Milady Meme Coin (LADYS) has recently announced a $5 million investment from DWF Labs, a global digital asset market maker and multi-stage Web3 investment firm.
According to DWF Labs, this investment will enable the LADYS team to explore more opportunities for development, collaboration, and community engagement within the meme ecosystem.
In addition to the capital, DWF Labs will provide strategic guidance and ecosystem support, empowering Milady Meme Coin to become a leading player in the meme coin space.
The LADYS team has expressed their intention to drive the next wave of innovation in this particular field, stating that “LADYS embodies the indomitable spirit of memetic power and internet love.”
MOTHER Coin Experiences Volatility in Meme Coin Market
MOTHER coin, which is associated with hip-hop artist Iggy Azalea, has quickly become a volatile player in the meme coin market despite being just five years old. The coin was launched on the Solana blockchain on May 29.
In its initial days, MOTHER experienced a significant drop of 73%, going from 0.01840925 on May 29 to 0.01840925 on May 31.
However, it then skyrocketed by an astonishing 1641.4% to reach 0.086022 on June 1.
Since then, the coin has experienced a decrease of nearly 21% and is currently trading at 0.06812.
Furthermore, the 24-hour trading volume decreased from $111,326,489 on May 29 to $49,988,936 on June 3, indicating a recent decline in market activity.
The launch of MOTHER was surrounded by controversy, with accusations of insider trading. Bubblemaps reported that insiders bought 20% of the MOTHER supply before its official launch, subsequently dumping $2 million worth of the token.
In response to these allegations, Azalea stated that she should not be held responsible for the actions of random individuals with wallets, emphasizing her goal of having a coin that is truly part of pop culture.
PEPE Emerges as the Most Profitable Coin in May, DOGE Whales Purchase $112M in 72 Hours
According to blockchain market intelligence platform IntoTheBlock, PEPE was the most profitable among the major meme coins in May.
A staggering 96% of PEPE holders made a profit by the end of May, thanks to a 90% return during the month.
Currently trading at $0.00001527, PEPE has experienced a 2.4% increase in the past 24 hours, a decrease of nearly 8% in a week, and an increase of 75% in a month.
Over the course of a year, the coin has appreciated by an impressive 1,053%.
Although PEPE reached its all-time high of $0.00001717 just a week ago on May 27, it has since experienced an 11% decrease.
On the other hand, Dogecoin (DOGE) garnered significant attention from crypto investors last week.
Crypto analyst Ali Martinez revealed on Twitter that DOGE whales had purchased over 700 million DOGE in the previous 72 hours, amounting to approximately $112 million, according to data from blockchain analytics platform Santiment.
Renowned analyst Michaël van de Poppe predicted a “massive breakout” for DOGE.
Currently priced at $0.1621, DOGE has experienced a 2.1% increase in a day, a 2.8% decrease in a week, and a 2.6% increase in a month.
Overall, the coin has appreciated by 124% over the past year.
From its all-time low nine years ago, DOGE has seen an astonishing increase of 186,515.6%, while it has fallen by 78% from its all-time high three years ago.
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