The Milady NFT collection spiked as much as 60% following an acknowledgement from Elon Musk, which drew parallels with the Twitter owner’s past praise for dogecoin. Miladys feature cartoon profile pic-like images with wide-eyed childlike faces, one of which Musk tweeted overlaid with the words, “There is no meme, I love you.” Following the tweet, the collection trended among the most in-demand NFTs on marketplace OpenSea, with prices as high as $13,700 worth of ether at the peak and trading volumes of over $22 million in the last 24 hours. The comparisons with dogecoin should prompt caution among traders however. While Musk’s supposed endorsement of DOGE in the past has triggered jumps in the memecoin’s price, they have often proved short-lived.