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Queen Elizabeth Memecoins Flooded Crypto Markets After Her Death

There is a significantly longer list of new tokens with sarcastic names including Rip Queen Elizabeth, Save the Queen, QueenDog,  London Bridge is Down and Queen Elizabeth Inu.

Following the passing of Queen Elizabeth II, crypto degens didn’t waste any time in releasing more than 40 new Queen-related meme tokens and hundreds of other nonfungible tokens (NFTs) in the same spirit onto the crypto market.

Over the past 24 hours, new coins with names like Queen Elizabeth Inu, Save the Queen, Queen, QueenDoge, London Bridge is Down, and Rip Queen Elizabeth has been released on decentralised exchanges on the BNB Smart Chain and Ethereum.

Queen Elizabeth Memecoins flooded crypto markets after her death.
Source: Queen Elizabeth Inu chart: Dex Screener

The Queen Elizabeth Inu token on BSC-based PancakeSwap has indeed experienced the most price value boost over the past 24 hours, with an eye-watering 28,506% pump to $0.00008000 at the time of writing, according to statistics from Dex Screener.

However, the Elizabeth token, which has witnessed $2.7 million worth of trade volume in less than 12 hours, dwarfs it with a $391,000 24-hour transaction volume. The asset has also experienced a parabolic 8,442% pump, sitting at $0.059931.

Queen Elizabeth Memecoins Flooded Crypto Markets After Her Death

It’s important to note that Queen Elizabeth Inu and Elizabeth only have $17,000 and $204,000 in liquidity behind them, respectively, signalling a lack of genuine backing and the possibility of a quick pump and dump, comparable to the infamous Squid Games token that was devalued in such a manner and burned last year.

Of course, the 135,000-member r/Buttcoin crypto-hating group has weighed in on the issue, with user woliphirl saying that they were “feeling bullish the U.K. will soon adopt the Queen Elizabeth II Commemorative token as their official money.

This was in reaction to a screenshot of a comment made in a post in the r/cryptocurrency community about how embarrassing this is for the entire crypto sector.

Source: Reddit

Within hours of the queen’s passing, the RIP Queen Elizabeth project appeared on the NFT marketplace OpenSea.

Each of the 520 NFTs in the collection portrays the queen in an artistic manner with sinister undertones.The project has only earned 0.06 Ether (ETH) worth of selling volume, which is equivalent to about $101. This suggests that collectors haven’t yet jumped behind the project.

Since there are so many NFTs in the collection, it appears that the project’s creator was waiting for the perfect time to introduce it.

Queen Elizabeth Memecoins Flooded Crypto Markets After Her Death

After 70 years and 214 days as the monarch in England, Queen Elizabeth II passed away at the age of 96. She was the queen of a sovereign state for the longest period of time. She enjoyed widespread popularity among the citizens of England and even maintained royal approval ratings of close to 90%.

Mufasa
Mufasa
Mufasa is the lead writer at CryptoMufasa who likes to share all the latest info on the crypto world with you! Mufasa Enjoys enjoys a good read and recommendations so don't forget to comment on the posts and let him know.

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