DWF Labs Invests $5M in LADYS, PEPE Emerges as Top-Grossing Coin in May
By Sead Fadilpašić
Updated on June 3, 2024, at 10:31 EDT
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A 4-minute read
Stay updated with the latest news on meme coins through our weekly, bite-sized digest.
This week’s highlights include:
Meme Coin News: Market Summary
LADYS Receives $5 Million Investment from DWF Labs
MOTHER Stirs Controversy with Volatile Market Ride
PEPE Emerges as Most Profitable Coin in May, DOGE Whales Purchase $112M in 72 Hours
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Meme Coin News: Market Summary
While the overall cryptocurrency market has experienced a slight increase in the past 24 hours, the meme coin market presents a mixed picture.
The meme coin market capitalization has decreased by 0.1%, currently standing at $66.6 billion.
Among the green coins, GME continues to be the best-performing meme coin, with a 226% increase in a day and now trading at $0.01289.
HABIBI follows as the second-best performer, rising by 81.3% to $0.04063.
As for the red coins, Shark Cat (SC) is down by 19% to $0.08685, while FOXY, BOB, and GIGA have all dropped by approximately 17%.
Interestingly, only two of the top 10 meme coins by market capitalization have experienced a decrease today.
Source: cryptonews.com/coins/meme-coins/
TURBO has fallen by 6.6% to $0.00661, while Memecoin (MEME) is down by less than 1% to $0.02956.
Meanwhile, Floki Inu (FLOKI) is the best performer of the day, with a 7.6% increase and currently trading at $0.00027.
Following closely behind is Milady Meme Coin (LADYS), which has risen by 6% to $0.0000002283.
Other coins have also experienced positive growth, with most of them rising above 1%.
LADYS Receives $5 Million Investment from DWF Labs
Milady Meme Coin (LADYS) has 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 provide the LADYS team with more opportunities for development, collaboration, and community engagement.
The collaboration aims to unlock new avenues for development, collaboration, and community engagement within the LADYS and meme ecosystem, as stated in the press release.
In addition to capital, DWF Labs will offer strategic guidance and ecosystem support, empowering Milady Meme Coin to become a leader in the meme coin space.
The LADYS team also expressed their plans to spearhead the next wave of innovation in this specific domain, emphasizing that “LADYS embodies the indomitable spirit of memetic power and internet love.”
MOTHER Stirs Controversy with Volatile Market Ride
Despite being only five years old, the MOTHER coin has quickly become entangled in the volatile world of meme coins.
Launched on the Solana blockchain on May 29, this coin, associated with hip-hop artist Iggy Azalea, faced a drop of 73% in the first two days of its existence, plummeting from 0.01840925 on May 29 to 0.01840925 on May 31.
Source: coingecko.com
However, it then experienced a staggering 1641.4% surge to 0.086022 on June 1. As of now, it has fallen by nearly 21% and is currently trading at 0.06812.
Moreover, the 24-hour trading volume decreased from $111,326,489 on May 29 to $49,988,936 on June 3, experiencing a 29.1% drop within a day, indicating a recent decline in market activity.
The coin faced controversy at its launch, with accusations of insider trading. Bubblemaps reported that insiders purchased 20% of the MOTHER supply before its launch, subsequently dumping $2 million worth of the token.
In response to Bubblemaps’ tweets, Azalea stated, “Meanwhile, because this is my concept/coin – I’m somehow supposed to bear responsibility for what random people do with their wallets. When in reality, their dumping only makes it harder for me to achieve my goal of having a coin that is actually part of pop culture.”
PEPE Emerges as 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 were in profit at the end of May, thanks to a 90% return last month.
The coin has experienced a 2.4% increase in the past 24 hours and is currently trading at $0.00001527. It has fallen by nearly 8% in a week but has risen by 75% in a month.
Notably, it has appreciated by 1,053% in a year. Its all-time high of $0.00001717 was reached just a week ago on May 27, experiencing an 11% decrease since then.
On the other hand, its all-time low was recorded on April 18, 2023, with a 27,567.5% increase since then.
Meanwhile, Dogecoin (DOGE) attracted significant attention from crypto investors last week.
On May 31, crypto analyst Ali Martinez tweeted that DOGE whales had purchased over 700 million DOGE in the previous 72 hours, amounting to approximately $112 million. This data was provided by the blockchain analytics platform Santiment.
Renowned analyst Michaël van de Poppe predicted “a massive breakout” for the coin.
DOGE’s current price is $0.1621. It has increased by 2.1% in a day, decreased by 2.8% in a week, and increased by 2.6% in a month. Overall, it has experienced a 124% increase over the past year.
It has appreciated by 186,515.6% from its all-time low, which occurred nine years ago, whereas it has fallen by 78% from its all-time high, witnessed three years ago.
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