Cultcoin Soars to $845M FDV, Backed by Milady NFT Community
The cryptocurrency market suffered a heavy blow, losing $267 billion and its market value falling below $3.49 trillion. Bitcoin also fell sharply, failing to stay above $100,000, falling to $96,751. If the downturn continues, it may fall further to around $95,668, putting the entire market at risk of falling to close to $3.10 trillion. While larger coins are down, new coins are creating diversified investment opportunities for investors.
Cultcoin is the latest buzz in the cryptocurrency space, making its grand debut with a fully diluted valuation (FDV) of over $600 million. Cultcoin Created by Remilia, the team behind the popular Milady NFT series, the launch of Cultcoin has been highly anticipated, attracting the attention of traders and NFT enthusiasts.
The token was officially launched last Thursday, sparking a trading frenzy. Its FDV surged to $845 million shortly after launch, but has since stabilized at around $630 million, according to Dexscreener data. Cultcoin’s initial success highlights its unique appeal as a memecoin and ecosystem-building asset.
From NFT to crypto star
Cultcoin’s journey began in June, when the project raised over $20.5 million during its presale. Tokenomics reflect a structured approach to community growth and development, with half of its 10 billion supply allocated to a “cult fund.” The fund supports immediate and seasonal distributions, ensuring the long-term sustainability of the ecosystem.
Additionally, early backers and holders of Milady Maker and Redacted Remilio Babies NFTs received airdrops, further intertwining the tokens with Remilia’s thriving NFT ecosystem.
Not Just Another Meme Coin
To boost community interest, Charlotte Fang, a well-known figure in the Remilia community, emphasized that Cultcoin is more than just a meme token. Fang describes it as a “metamemecoin” or “memeplexcoin” designed to power a self-organizing, ideologically driven ecosystem. Fang clarified on social media that Cultcoin should not be mistaken for a simple Milady-branded token, but should be viewed as a groundbreaking project in its own right.
Cultcoin’s success reflects the growing trend of NFT projects expanding into the cryptocurrency space. Another major NFT series, Pudgy Penguins, recently announced its own token, Pengu, with plans for a massive community airdrop.
Whales have started making money
An Ethereum trader turned 500 ETH ($1.99 million) into a massive $1 million profit by sniping 467.64 million CULT tokens. The trader paid a whopping 100 ETH ($398,000) as a “bribe fee” to secure the initial purchase of $CULT tokens, a strategy that paid off handsomely.
After selling 267.64 million CULT tokens for 432 ETH ($1.72 million), the savvy investor still holds 200 million CULT tokens worth approximately $1.32 million. There will be 10 new airdrops in December, and traders can move their investments this month to get better returns, but do your own research before participating in an airdrop.
So whether it’s a revolution or an entirely new category, Cultcoin’s story has only just begun.
