Milady's Solana Memecoin Collection Draws $18.7M in Two Hours, Fuels Crypto Bull Run
Summary:
The Solana memecoin collection by Milady, an NFT line-up, gained significant interest during its presale, attracting 91,486 SOL ($18.7 million) within two hours. Coined "Milady Wif Hat,” the new Solana memecoin witnessed a two-fold price increase following an announcement by Su Zhu, co-founder of Three Arrows Capital. On the other hand, memecoins were also part of the crypto bull run, with WIF, another memecoin, reaching an all-time high of $3.
The novel Solana memecoin collection by Milady, a nonfungible token (NFT) line-up, drew in a whopping 91,486 SOL (equivalent to $18.7 million) within a short span of two hours following the presale announcement. On March 18, the team at Milady announced their new Solana memecoin, dubbed "Milady Wif Hat,” which plays off the famous Solana memecoin dogwifhat (WIF). It comes with a minimum investment of 1 SOL and a cap of 88,888 SOL. Within hours, the presale was over-subscribed. "The presale of Milady Wif Hat has hit its limit of 88,888 SOL, closing the event," stated the Milady developers, further stating that any additional Solana raised will result in them refunding 100% of the funds. The Milady NFT collection consists of 10,000 anime-inspired profile picture avatars and has picked up steam amidst the ongoing crypto bull market. This rise in popularity was further boosted through promotions by Three Arrows Capital (3AC) co-founder and Singaporean hedge fundhead, Su Zhu. Post the purchase announcement, the price of Milady NFTs saw a two-fold increase, reaching a new high of $19,000 per unit, before eventually settling down to $11,742 at the time of writing. As part of the crypto bull run, memecoins too joined the rally. On March 14, WIF managed to hit a new all-time high of $3, as supporters of the memecoin collectively raised over $700,000 to promote the token's logo on the Las Vegas sphere. WIF has stood out as the highest performing memecoin in the present cycle, recording an impressive gain of over 1,000,000% since it was first launched in late November of the previous year. Its recent listing on Binance further contributed to its significant gain. In a similar vein on March 18, Slerf, a token developer, mistakenly burned 53,000 SOL in a highly anticipated presale, leading to a total loss for those who invested in the airdrop.
Published At
3/18/2024 6:32:40 PM
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