On Thursday, December 5, the Milady NFT creators launched the CULT memecoin on Ethereum. The token immediately attracted investors’ attention, reaching a fully diluted valuation (FDV) of $845 million at its peak before stabilizing around $630 million. Amid the excitement, a large investor leveraged early access and earned about $1 million in just a few hours.
Whale and Millions
According to Etherescan, within the first minutes of the launch, a large investor spent 500 ETH ($1.94 million) to purchase 467.64 million CULT, paying a 100 ETH ($38,800) fee and becoming the token’s first buyer.
Later, he sold 267.64 million CULT for 432 ETH ($1.67 million) and kept 200 million CULT, which is currently worth about $1.3 million. Thus, he secured roughly $1 million in profit within a few hours.
What We Know About CULT
Remilia Corporation, known for its Milady Maker NFTs, created CULT. A presale in June 2024 raised $20.5 million. Out of the total supply of 10 billion tokens, half are allocated to a “Cult fund.” The team distributed 50% of this fund at launch and plans seasonal distributions for the rest.
The project team received 15% of the tokens with an 18-month vesting period. Remilia’s treasury took between 20% and 35%, depending on presale conditions, also subject to a six-month vesting period, according to the tokenomics.
The launch of CULT generated buzz in the crypto community due to mysterious memes and teasers. Remilia Corporation organized an airdrop of tokens for holders of its NFTs, including Milady Maker and Redacted Remilio Babies.
Charlotte Fang, leader of Remilia Corporation, emphasized that CULT is not a typical memecoin. She called it a “metamemecoin” and explained that the project aims to create an ecosystem currency for a self-governing memetic community.
This post is for informational purposes only and does not constitute advertising or investment advice. Please conduct your own research before making any decisions.
This post is for informational purposes only and is not an ad or investment advice. Please do your own research making any decisions.