Cult Memecoin Launches with Over $600 Million Valuation

Highly Anticipated Debut

Cult, a memecoin created by the team behind Milady NFTs, has launched with an initial fully diluted valuation exceeding $600 million. The Ethereum-based token saw its valuation soar to $845 million shortly after launch before stabilizing at around $630 million.

Tokenomics and Distribution

The Cult token’s total supply of 10 billion includes allocations for a community fund, with half distributed at launch and the rest reserved for seasonal distribution. The team retains 15% of the supply with an 18-month vesting period, while the treasury holds up to 35% for project initiatives.

Community Engagement

Cult’s launch included an airdrop for holders of Remilia Corporation NFTs, such as Milady Maker. Anticipation for the token grew over months of cryptic social media campaigns that fueled speculation among investors and the broader NFT community.

Not Just a Memecoin

Charlotte Fang, a leader of Remilia Corporation, emphasized that Cult represents more than a typical memecoin, describing it as a “metamemecoin” designed to fuel an ideological movement. The token aims to serve as a broader ecosystem coin for the Milady community and beyond.