March 27, 2024
Milady NFT Hits $18.6M Presale Target in Less Than 2 Hours
Latest Cryptocurrency News

Milady NFT Hits $18.6M Presale Target in Less Than 2 Hours

The nonfungible token (NFT) collection Milady’s novel Solana memecoin has garnered significant attention, attracting 91,486 SOL ($18.7 million) within two hours of its presale announcement.

Milady unveiled the Solana memecoin, named Milady Wif Hat after the popular Solana memecoin Dogwifhat (WIF), on March 18. The presale announcement outlined a 1 SOL minimum investment with an 88,888 SOL cap. Shortly after the announcement, the presale became oversubscribed, reaching its limit of 88,888 SOL. The team announced the closure of the presale, with any additional Solana raised to be fully refunded.

The Milady NFT collection, featuring 10,000 anime-inspired profile picture avatars, gained traction during the ongoing crypto bull market. Su Zhu, co-founder of Singaporean hedge fund Three Arrows Capital, contributed to the hype by endorsing the project. Following Zhu’s endorsement, the price of Milady NFTs surged to a high of $19,000 apiece before retracing to $11,742 at the time of publication.

Memecoins have also experienced significant activity during the crypto bull run. On March 14, WIF reached an all-time high of $3 as supporters raised over $700,000 to advertise the token’s logo on the Las Vegas sphere. WIF has emerged as the best-performing memecoin of the current cycle, boasting gains of over 1,000,000% since its launch in late November 2023, aided by its recent listing on Binance.

In a similar event on March 18, token developer Slerf accidentally burned 53,000 SOL in a highly anticipated presale, resulting in a complete loss for investors who participated in the airdrop.

Overall, the frenzy surrounding the Milady NFT collection and Solana memecoin underscores the exuberance in the crypto market amid heightened interest and speculative activity. Investors are increasingly drawn to novel projects like Milady’s Solana memecoin, seeking to capitalize on potential gains in the ever-evolving landscape of digital assets. As the market continues to evolve, such developments serve as a reminder of both the opportunities and risks inherent in the cryptocurrency space.

Image by freepik

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