CULT Memecoin Soars After $207M Airdrop to Milady NFT Holders

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As a seasoned crypto investor with over a decade of experience navigating the volatile and ever-evolving digital asset landscape, I must admit that the launch of CULT has piqued my interest and ignited a sense of anticipation. The sheer magnitude of the airdrop and the buzz surrounding this meme token from Remilia Corporation is hard to ignore.

The eagerly awaited debut of CULT, the meme-focused cryptocurrency created by the team behind the Milady NFT initiative, has swept through the crypto sphere and distributed a staggering $207 million in tokens to Milady token holders.

As per Arkham’s statement, the individual with the greatest share in the airdrop will receive approximately 2.22 million dollars. Included among these recipients are Stani, founder of Aave, who received an airdrop valued at one hundred thousand dollars, and Tom Schmidt from Dragonfly Capital, whose airdrop is estimated to be worth one hundred fifty thousand dollars.

Just a day or two ago, CULT made its grand debut on the Ethereum blockchain, and its total market capitalization soared past an astounding $600 million right from the get-go.

Based on Dexscreener’s information, the token’s peak value momentarily soared to approximately $845 million. However, it has since stabilized near $630 million, reflecting market adjustments after the initial spike.

The innovative initiative known as CULT was developed by Remilia Corporation, who are also responsible for the creation of the Milady Maker NFTs. During a pre-sale earlier in the year, the project garnered substantial excitement and interest from investors, ultimately amassing over $20.5 million.

The core of the launch involves the “Cult Fund,” which holds 50% of the total 10 billion tokens produced. Initially, 50% of this amount was designated for the token’s introduction, with the remaining half intended for periodic distribution over time.

Significantly, the group responsible for the project acquired 15% of the total amount, which is to be released over an 18-month timeframe, whereas the project’s funds have been allocated between 20% and 35%, with a six-month release schedule.

The introduction of CULT was accompanied by an intriguing surprise—a significant airdrop aimed at owners of Remilia NFTs, including Milady Maker and Redacted Remilio Babies. This airdrop sparked a ripple effect throughout the NFT community, adding to the anticipation surrounding its launch.

In contrast to the widespread trend of meme coins dominating the NFT sector, Charlotte Fang, head of Remilia, made it clear on social media that CULT is not simply another typical meme coin. Instead, she highlighted that this token is fundamentally distinct, serving as an “ecosystem coin” for a self-governing, memetic movement. As Fang explained, CULT introduces a fresh category of tokens – what she refers to as a “metamemecoin” or “memeplexcoin”.

With projects similar to Pudgy Penguins readying their meme-based cryptocurrencies for release, the arrival of the CULT token signifies a thrilling new stage for both the Milady NFT community and the expansive realm of crypto and meme coin industries.

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2024-12-10 14:29