MONGS NFT has gained popularity through the launch of its meme token MONG and strategic token listings. Meanwhile, there’s an intriguing connection between PEPE whales and the Milady NFT collection. Read on to understand the broader impact of the latest meme movement on the NFT market.
Decode the hype behind MONGS NFT
MONGS NFT, a collection that initially struggled to find success when launched in January 2022, has recently experienced a significant revival in popularity. This resurgence can be attributed to the project’s decision to launch its own meme token, MONG, amidst the meme coin frenzy.
MONGS’ newfound popularity can be seen in the impressive growth of its NFTs’ stats over the past week. The collection’s floor price has skyrocketed by 936.24% to $265.78, while the trading volume has increased by a staggering 1,058.95% to $1.63 million.
One of the key factors driving this surge was the announcement on 1 May that MONGS NFT holders would have the right to claim MONG tokens.
As a result, the number of traders engaging with MONGS NFTs has grown by 253.04%, attracting a total of 2,316 traders in 7 days.
Additionally, by aggressively listing on crypto exchanges such as Bitget and MEXC, the MONG token managed to capitalize on the hype surrounding meme coins like PEPE. Notably, these meme coins have become the target of speculators despite lacking tangible utilities.
PEPE whales collect Milady Maker NFTs?
The meme trend, ignited by the explosive traction of PEPE, has taken the crypto world by storm. But there’s more to the story.
Leveraging DappRadar’s Portfolio Tracker, we’ve gained valuable insights into the trading strategies of smart money in the NFT space. One intriguing discovery is that many whale holders of PEPE also possess Milady NFTs in their collections.
While this overlap could be merely coincidental, it is worth exploring further. Notably, Milady’s recent success and its connection to meme culture add an interesting dimension to this phenomenon.
Embodying the ‘weirdcore’ philosophy, Milady seeks to challenge prevailing aesthetic standards in the NFT market and defy authority. This pursuit of uniqueness resonates with the meme culture that has driven the popularity of tokens like PEPE.
Some of the PEPE whales’ wallets:
- 0x9c…b2a9 – $11.88M worth of PEPE / Milady 8088
- 0x4a…0614 – $5.91M worth of PEPE / Milady 4501 and 32 more
- 0x4f…c290 – $3.36M worth of PEPE / Milady 4258
This week, Milady maintains its position among the top 10 collections on DappRadar’s NFT Ranking board.
Over the past seven days, Milady has achieved a trading volume of over $9 million, and its floor price has increased by 50% to an impressive $6,870. These statistics demonstrate the growing interest in Milady NFTs and the collection’s overall success in the market.
Sailing through the meme wave with caution
The increasing meme movement may be a reflection of users’ growing distrust in centralized authorities. Recent failures of big banks and other centralized entities have led to an escalating disillusionment with traditional definitions of value, making the anti-authority spirit of the meme movement especially appealing.
Nonetheless, it’s crucial to keep in mind that such correlations might be purely coincidental and should not be overanalyzed. The NFT market is intricate and ever-changing, with many factors shaping its trends and collectors’ choices.
To better navigate this landscape, harness the power of DappRadar products, such as Rankings, NFT Value Estimator, and APIs, to equip yourself with data-driven insights. Additionally, delve into our latest report, which sheds light on the factors driving the recent meme craze.
Check out the list of NFT sales highlights
N.B. Dollar values given are correct at the time of sale.
Every week, DappRadar highlights not only the most expensive NFT sales but also the most interesting in the previous seven days. While huge numbers are sure to capture headlines, it’s also essential to highlight emerging trends and keep the DappRadar community ahead.
- BAYC #811– $626,000 / 345.69 ETH – Owner’s Wallet
- CryptoPunk #7400 – $144,540 / 75.75 ETH – Owner’s Wallet
- Skulls of Luci #45– $113,530 / 62 ETH – Owner’s Wallet
- Fidenza #886 – $285,880 / 51 ETH – Owner’s Wallet
- DeGod #4320 – $76,250 / 40 ETH – Owner’s Wallet
- MAYC #24797 – $58,480 / 32 ETH – Owner’s Wallet
