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A recent exciting development in the digital currency market is the reawakening of a previously dormant address. This address had been inactive for about 12 months, but it has now come back to life and made its first move by withdrawing 375,000 USDT from Binance, the world’s largest digital currency trading platform. The funds were then used to acquire Milady Meme Coin (LADYS), which has become one of the most popular memecoins in the market.
According to reports from crypto analytics platform Lookonchain, the dormant whale address acquired a total of 3.26 trillion LADYS tokens in the past 5 hours at an average price of $0.0000001151. The move has sparked a lot of reactions from the market, with some people speculating that it might be due to FOMO, which stands for Fear of Missing Out.
The popularity of memecoins in the market has attracted the attention of market whales who seem to be more inclined towards these fun tokens. This is evident from the accumulation of Dogecoin (DOGE) and XRP by market whales in recent times. The presence of these large capital owners has had a significant impact on the price push of these tokens.
The acquisition of LADYS by the dormant whale address is a clear indication of the significant influence market whales can have on the price direction of any particular coin. As of writing, LADYS is trading at a price of $0.0000001039, showing an increase of 18.48% in the past 24 hours. With the reawakening of this dormant address, it remains to be seen what other moves the whale might make in the market.
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