Is the Milady Meme Coin (LADYS) a buy as it surges to ATH？

Milady Meme Coin (LADYS) price surged to a record high on Wednesday, making it one of the best-performing cryptocurrencies this year. The token soared to a high of $0.000000335, which was 1,550% from its lowest point in 2023. Its total market cap has jumped to over $350 million.

Why Milady Meme Coin is surging

Milady Meme Coin has done well, helped by the strong performance of cryptocurrencies. Bitcoin has surged above $71,000, triggering a sense of Fear of Missing Out (FOMO) in the market. Most altcoins, including big ones like Ethereum, Solana, and Tron have all surged recently.

Meme coins have been some of the top-performing cryptocurrencies because of their low prices. Unlike Bitcoin, which is going for over $70,000, Milady Meme Coin trades for $0.000000335. This means that the token has an easier path to double compared to Bitcoin and other large coins.

This explains why most meme coins like Floki Inu, Bonk, and Dogelon Mars have done well this year. As a result, the total market cap of all meme coins has jumped to more than $65 billion, with Dogecoin and Shiba Inu being the market leaders.

Another notable metric is that the number of LADYS whales has continued doing well. Whales now account for over 70% of all holders. At the same time, the volume of Milady has held quite well. Data by CoinGecko shows that the average volume in the past ten days stood at over $20 million. This is a big increase since it was less than $5 million a few weeks ago.

Looking ahead, LADYS price will likely continue doing well as meme coin demand rises ahead of next months Bitcoin halving. In most cases, Bitcoin tends to rally hard ahead of that event. And if this happens, it means that other altcoins will do the same.

LADYS price forecast

LADYS chart by TradingView

The daily chart shows that the Milady Meme Coin price has been in a strong uptrend in the past few weeks. In this surge, the token has flipped the important resistance point at $0.00000016, its highest swing in December and May last year.

LADYS token has moved sharply higher than all moving averages while the Relative Strength Index (RSI) has jumped above the overbought level. The Klinger Oscillator and the Average Directional Index (ADX) have continued soaring.

Therefore, the outlook for Milady is bullish, with the next point to watch being at $0.00000040. Still, a short-term pullback is also possible as profit-taking sets in.