On the evening of May 10th, Elon Musk unexpectedly tweeted a meme about Milady with the caption, “No meme at all. Love you.”
Following this tweet, the Milady NFT collection surged and quickly became the top trending item on OpenSea, reaching a record floor price of 7.3 ETH (approximately $13,700). However, at the time of writing, it had decreased to 4.5 ETH.
According to data from NFT Price Floor, the trading volume of Milady in the past 24 hours had increased by over 1000% to reach 4,522 ETH, with 827 transactions, a 612% increase. This surge was primarily attributed to the Elon Musk effect.
In addition, the community noticed a significant number of buyers jumping on the Milady bandwagon, taking advantage of the FOMO frenzy. On the other hand, some individuals unstaked their NFTs from lending platforms to secure profits.
Elon Musk’s latest move once again stirred up the community. Instead of talking about cryptocurrencies, the CEO of Tesla shared an image of an NFT, bringing something entirely new to the table. Similar to his cryptocurrency-related posts, the price of the Milady NFT experienced a substantial increase of over 50% to reach 5 ETH after Elon Musk’s endorsement, breaking its months-long stagnation.
Previously, on May 4th, Elon Musk had changed his Twitter profile picture to a series of NFTs from the Borded Ape Yacht Club (BAYC), causing a surge in APE prices. However, this multi-talented billionaire quickly clarified that it was merely a playful prank.
Milady, a collection of NFTs, gained attention within the cryptocurrency community since April 2022, but it also stirred up controversy due to its founder’s involvement in various disputes. Nevertheless, Milady continued to attract the interest of many enthusiasts and collectors.