Elon Musk, the billionaire owner of Twitter, has once again caused a stir in the crypto market with a single tweet. On Wednesday, Musk tweeted a Milady meme with the text “There is no meme. I love you,” which led to an uptick in Milady NFT sales and a nearly 50% increase in the floor price of the project.
According to NFT Price Floor, Milady NFT sales rose by 500% over the last 24 hours as of Wednesday afternoon, following Musk’s tweet. This is not the first time Musk has caused a crypto price spike with his tweets. Last month, the price of Dogecoin shot up after Musk changed the platform’s logo to the famous meme of a Shiba Inu dog.
The Milady NFT project is created by Remilia Creative, a group of artists who specialize in creating unique digital art pieces. Other projects from the same group, such as Redacted Remilio Babies NFTs, also saw an increase in sales on Wednesday, with a 660% rise over the last 24 hours.
NFTs, or non-fungible tokens, are unique digital assets that are authenticated on a blockchain. They have gained popularity in recent months as collectors and investors have shown a growing interest in owning digital art and other unique digital assets.
Musk’s influence in the crypto market has been significant, and his tweets have been known to cause sudden price spikes and drops in various cryptocurrencies. Despite concerns about the volatility of the crypto market, many investors continue to see it as a lucrative opportunity for investment.
