Big Player Buys LADYS, Meme Token Bull Run Incoming?

2 years ago

DWF Labs, a planetary integer plus marketplace shaper and concern firm, is buying much LADYS, on-chain information connected May 17 shows.

DWF Labs Buying LADYS

Trackers indicate that the marketplace shaper bought 1.9 trillion LADYS for 108 ETH worthy astir $196,000 astatine the clip of the purchase.

These purchases were made connected Uniswap v3, a decentralized speech allowing for trustless token swapping connected respective blockchains.

While DWF Labs’ acquisition could beryllium worthy watching, it is not instantly wide wherefore they are buying the meme token that its creators accidental volition beryllium the “quintessential token for net spirituality” successful the days ahead.

There are concerns that the marketplace marker is trying the pump LADYS truthful that they tin liquidate and nett later. On the different hand, DWF Labs could beryllium genuinely funny successful the task and privation to speculate, riding connected the meme civilization that has gripped the cryptocurrency markets successful caller weeks.

LADYS is simply a meme coin that was created by the Milady creator, an NFT task connected the Ethereum blockchain. Milady’s creator says the LADYS is simply a meme token with zero inferior but is “self-organized” and a “drip currency.”

There is besides a disclaimer that the task has “no relation with Charlotte Fang oregon her instauration Milady Maker” but is simply “paying homage to an NFT postulation we each emotion and recognize.”

Meme Coin Activity Is Falling

Considering the caller occurrence of meme tokens similar PEPE, LADYS has been flying higher, drafting attraction contempt the token’s deficiency of intrinsic utility.

Even so, CoinMarketCap data connected May 18 shows that LADYS has been cooling disconnected successful caller days, contempt its wide marketplace capitalization remaining decent astatine $69,219,733. With this, the token is ranked 324th successful the marketplace headdress leaderboard.

Part of this precocious marketplace headdress could beryllium due to the fact that the token is listed successful immoderate centralized exchanges too Uniswap, wherever it is actively traded. CoinMarketCap data shows that LADYS actively trades connected MEX and Gate.io, 2 fashionable periphery cryptocurrency exchanges.

Following the listing connected these centralized exchanges, the meme token’s trading enactment appears to person contracted successful Uniswap.

However, Etherscan data shows that 16,045 LADYS holders person generated implicit 123,000 transfers since launch.

Still, determination is simply a interest astir the fig of on-chain transfers implicit the past trading week. For instance, on-chain transfers peaked connected May 11 astatine 40,247 earlier crashing to 4,708 connected May 17.

Notably, during this time, LADYS prices crashed 68% from May 11 highs of $0.0000002985 to $0.0000000922 connected May 17.