These ‘Suspicious Wallets’ Move Hundreds of Trillions of LADYS to Exchanges – Big Sell-off Coming?

“Smart Wallet” tracker @lookonchain has published an update on its recent tweet about the list of “suspicious wallets” that have been buying and selling massive amounts of LADYS meme coin.

In the meantime, large blockchain company DWF Labs has been acquiring large portions of Milady Meme Coin.

102.5 trillion LADYS goes to exchanges in total

On May 16, @lookonchain published a list of 86 addresses it called “suspicious,” which sent 90 trillion LADYS meme coins to various crypto exchanges. That is equal to nearly $11 million.

The tracking service then warned crypto users who are after LADYS to watch out for those wallets.

Now, the analytics platform has published an update to add that these wallets transferred another massive lump of the aforementioned meme coins to crypto exchanges. This time, the amount was 12.4 trillion worth $1.2 million.

In total, within the past two days, these mysterious wallets have sold 102.5 trillion LADYS. They still hold a total of 118.6 trillion of these coins, potentially worth $11 million.

Update:

These suspicious addresses deposited 12.4T $LADYS ($1.2M) to exchanges again 8 hrs ago.

Currently hold 118.6T $LADYS ($11M), and deposited 102.5T $LADYS ($9.5M) to exchanges in total.https://t.co/u6Xy1igGb7 pic.twitter.com/if3PCqKY6D

— Lookonchain (@lookonchain) May 17, 2023

DWF Labs buying LADYS for ETH

@lookonchain also reported that global major market maker DWF Labs has acquired 2.6 trillion LADYS for 135 ETH (an equivalent of $245,000) at the price of $0.0000001035 per token.

Update: DWF Labs bought a total of 2.36T $LADYS with 135 $ETH($245K) at an average price of $0.000000104.https://t.co/GzIzJW3KcZ pic.twitter.com/gv6G7d6KQx

— Lookonchain (@lookonchain) May 17, 2023

On May 17, the tracker tweeted that DWF Labs sent more than 12 trillion LADYS to several major exchanges, including Huobi, Bybit and Gate.io. However, @lookonchain was contacted by a DWF Labs rep, who stated that this wallet was not associated with them but belonged to one of their partners. The coins were then removed from those exchanges and withdrawn back to the wallet.

LADYS price plummets

At the time of this writing, the meme coin is down by 21%, according to data shared by CoinMarketCap, and is changing hands at $0.00000008937.

Last week, LADYS printed a staggering rise of 12,056% after Elon Musk tweeted a meme related to it. A day after that, the meme coin was listed by major trading platform Crypto.com.

However, today, LADYS is down, and it was down around 31% yesterday. The price is likely to be impacted by the hundreds of trillions of it being sold at the moment.