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Friday, March 1, 2024

Milady Meme Coin (LADYS) Stuns With Unrealized Profit

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  • Huobi Futures includes LADYS/USDT trading pair on an Isolated Margin, allowing leverage of up to 10x.
  • A warning is raised about potential risks associated with the LADYS contract, including transfer limits and blacklisting.
  • The Milady meme token holders have amassed an unrealized profit of $20 million.

Huobi Futures, a leading cryptocurrency derivatives exchange, has recently announced the inclusion of the LADYS/USDT trading pair on its Isolated Margin platform. This new trading pair allows traders to engage in margin trading for the LADYS meme token, which is based on the popular Milady NFT collection.

By introducing the LADYS/USDT trading pair, Huobi Futures aims to cater to the growing demand for meme tokens and provide traders with enhanced trading opportunities. With leverage of up to 10x, users can amplify their gains or losses, depending on market conditions.

LADYS/ USD Price Chart (Source: Coinmarketcap)

However, it is important to note that concerns have been raised regarding potential risks associated with the LADYS contract. Yevhen, a DeFi analyst, has cautioned users about two particular risks: transfer limits and blacklisting. These risks imply that there may be restrictions on the transferability of LADYS tokens and the possibility of specific addresses being blocked or banned from participating in transactions. Traders should carefully consider these risks before engaging in trading activities involving the LADYS token.

Unrealized Profits of Milady Meme Coin Holders

In parallel to the introduction of the LADYS/USDT trading pair, the Milady Meme Coin has gained significant attention within the crypto community. According to analysis, the top ten holders of the Milady Meme Coin have collectively amassed a total unrealized profit of $20 million.

The Milady Meme Coin is derived from the Milady NFT collection, which features digital artworks representing a fictional character. The growing popularity of the collection, coupled with the surge in demand for meme tokens, has contributed to the substantial profits realized by early token holders.

The unrealized profit serves as a testament to the potential profitability of meme tokens and the opportunities they offer to investors. However, it’s worth noting that these profits are unrealized, meaning they are based on the current market value and could fluctuate depending on the future market.

LADYS/USDT technical chart (Source: Huobi)

Meanwhile, the Milady token is trading at $0.000008526, down by over 42% in the last 24 hours. The technical indicators are bearish as the token faces stiff resistance at $0.000011. The support levels for Milady are seen at $0.000007 and $0.000005, respectively. The short-term outlook of this cryptocurrency is bearish as it continues to remain under pressure from the lower Bollinger Band and resistance levels.

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