Milady Meme Coin (LADYS) price has gone parabolic as investors remain optimistic about the crypto industry and as the fear and greed index soars. The token has risen for two consecutive days, moving to a high of $0.0000016, its highest point since December 16th last year. It has surged by more than 710% from its lowest point in 2023.
Why is LADYS soaring?
Milady Meme Coin is one of the many meme tokens that have been created in the past few months. The other popular ones are the likes of Pepe, Bonk, and dogwifhat. As such, the token does not have a specific role. Instead, its price tends to track that of other cryptocurrencies like Bitcoin, Ethereum, and Solana.
There is no specific reason why the token has surged recently. One of the minor reasons why the token is gaining the hype is that Friday is Women’s Day, which is celebrated around the world. In this case, Milady is rising because its name targets women or ladies. The same happens with other meme coins. For example, the price of MAGA (Trump) jumped after he won the nomination.
LADYS price is also soaring because of the rising demand for meme coins. Recent data shows that the total market cap of all meme tokens has surged to over $27 billion. This makes it one of the biggest sub-sectors in the crypto industry. The biggest ones are the likes of Dogecoin, Shiba Inu, and Pepe.
Further, Milady Meme Coin has gone parabolic because of the improving fear and greed index in the industry. Because of the Fear of Missing Out (FOMO), the index has moved to the extreme greed zone of 85. In most cases, cryptocurrencies and stocks do well when there is a sense of greed in the market.
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Milady Meme Coin price forecast
Turning to the daily chart, we see that the LADYS price bottomed at $0.00000019 in August last year. It has now gone parabolic and reached a high of $0.0000016, its highest point since December 16th.
Milady is forming a cup and handle pattern, which is one of the most bullish signs in the market. Most recently, it has crossed the important psychological point at $0.00000010. It also remains much higher than all the moving averages.
Therefore, the outlook for the token is extremely bullish, with the next reference level to watch being at $0.00000017, its highest swing in December last year. This price is also the highest point of the cup and handle pattern. A break above that level will see it soar to its all-time high at $0.00000019.
