In the ever-evolving world of cryptocurrency, the Elon Musk effect is as powerful as ever. The latest example is the NoMeme ($NOMEME) token, which skyrocketed 700% within 90 minutes of its launch. Musk’s tweet featuring a Milady NFT image seems to have been the catalyst for this frenzy. Now trading at $0.0003025 on decentralized exchange Uniswap, $NOMEME has an impressive liquidity of $1.7 million and a trading volume of $30 million, prompting analysts to speculate on its potential for 100x returns.
The enigmatic nature of Musk’s tweet, featuring a caption saying “There is no meme – I love you”, is fitting for the mysterious collection, believed to be the work of New York-based Remilia art collective. In response to his tweet, Milady NFT prices have soared, with the Milady Maker floor price reaching a staggering $10,575 (5.7134 ETH). The value of the Milady Maker NFT collection has also risen by 54% on top NFT marketplace Opensea.
Musk is well-known for influencing the prices of meme coins like Dogecoin and Shiba Inu, and his tweet’s timing has allowed agile crypto teams to seize the opportunity. Although the creators of $NOMEME remain unidentified, the token was launched just three hours after Musk’s tweet. Its rapid ascent and potential for significant returns have captivated the attention of crypto enthusiasts.
Newcomers have an optimal entry point as the price of $NOMEME has since retraced. Early price action is likely to see its value appreciate rapidly in the coming hours due to Musk’s considerable influence. His tweet has been viewed 15.6 million times and liked 141,500 times, sending the news of “NoMeme” across the internet and fueling buying interest.
Purchasing $NOMEME is a straightforward process: Simply connect your wallet to the Uniswap widget on the https://nomeme.io/ website. Ethereum gas fees are currently reasonable, around $20 instead of the $90 seen last week.
Although it’s uncertain whether Milady-branded coins and No Meme skits will become a new breed of coins, $NOMEME offers a new focal point for speculative funds in the crypto space. It could even assume the role of meme coin anti-hero. Another Musk-inspired token, Milady Meme Coin, has experienced a 5,400% surge to $0.00000007964. The smart money appears to be on $NOMEME achieving similar returns in the hours and days ahead.
So, is the world ready for a 100x return on investment? With the growing interest surrounding $NOMEME, it seems likely.
Source: Cryptonews
