A wallet that hasn’t been used for almost a year took out stablecoins from Binance and used them to buy meme tokens.
A big crypto investor, known as a whale, made a huge buy of LADYS tokens, a meme coin based on the Milady NFT collection, after not doing anything for a whole year.
Based on information from Etherscan, the whale took out 375,000 USDT from Binance and used it to buy 3.26 trillion LADYS tokens in the last five hours. The average price they paid for each LADYS token was 0.0000001151 USD.
Currently, the token has a market value of about $80 million, but it has dropped by around 30% in the past day. It’s important to note that this token was created following Elon Musk’s Milady meme, and it doesn’t have any actual worth or utility.
During the recent trend of meme tokens, many new tokens have appeared following PEPE, but some of them have turned out to be scams or involved in schemes where the value is artificially inflated and then suddenly dropped.
It’s important to understand that meme tokens are extremely unpredictable and risky investments that can result in substantial financial losses.
*Not investment advice.