How Milady Memecoin Made Its Whales Rich: Top 10 Hodlers Raked In Profits Of Over $26M
Milady meme coin (LADYS) has witnessed a massive price jump resulting in potential profits in the millions for its top 10 whales.
What Happened: According to on-chain data analyzed by Lookonchain on Monday, these whales hold over 176 trillion LAYDS coins, amounting to roughly 20% of its total supply.
The whales paid an average price of $0.0000000037604 per token, and the current price of the coin stands at around $0.00000009538, an increase of 2436%.
While some whales have sold some of their holdings, six of the top 10 are still in possession of paper profits equating to more than $1 million each. Data from Lookonchain shows that the total profit for the top 10 whales stands at $26 million.
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Why It Matters: However, there is a catch – the top three whales have had their addresses blacklisted, rendering them unlikely to be able to cash out.
Lookonchain suggests this could be due to insider trading, but the cause is still unknown.
According to data from CoinMarketCap, Milady meme coin skyrocketed over 13,000% in the last seven days, outperforming top meme cryptocurrencies like Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB).
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