Crypto markets see flood of Queen Elizabeth memecoins and NFTs

Several cryptocurrency markets were flooded with over 40 new Queen-related meme tokens and hundreds of new non-fungible tokens (NFTs) shortly after Queen Elizabeth II’s death.

New tokens launched on Binance Smart Chain (BSC) and decentralised exchanges on Ethereum in the past 24 hours include names like Queen Elizabeth, Save the Queen, The Queen, QueenDoge, London Bridge Collapse, and Queen Elizabeth.

According to data from Dex Screener, the Queen Elizabeth Inu token on the BSC-based Pancake Swap has seen the biggest price increase over the past 24 hours, hitting $0.00008000 at the time of writing, a staggering 28,506% increase.

Queen Elizabeth Inu Chart: Dex Screener

Its 24-hour trading volume of $391,000 pales in comparison to Elizabeth Coin, which has seen $2.7 million in less than 12 hours. The asset also gained as much as 8,442% to $0.059931.

 It is worth noting that the liquidity behind Queen Elizabeth Inu and Queen Elizabeth has just $17,000 and $204,000, respectively, indicating that they lack real support and there may be brief pump and dumps similar to the infamous Squid Games coin crash and burn down last October.

The 135,000-member hating cryptocurrency community r/Buttcoin certainly weighed in on the matter, with user woliphirl joking that they were “optimistic that the Queen Elizabeth II coin would soon be used as the UK’s national currency”.

This is in response to a screenshot of a post in the r/cryptocurrency community commenting on how embarrassing this is for the entire crypto industry.

Reddit: Queen Elizabeth’s Memecoin Post

On the NFT marketplace OpenSea, the RIP Queen Elizabeth project also sprouted within hours of the Queen’s death.

There are 520 NFTs in the collection, and each token features an artistic rendition of the queen with sinister undertones. So far, collectors do not appear to be backing the project, as it has only generated sales of 0.06 ether (ETH) worth about $101.

The number of NFTs in the collection seems to indicate that the creators of the project are waiting for the right moment to launch the collection.

Rip Queen Elizabeth NFTs: OpenSea

Queen Elizabeth II has died at the age of 96 and was Britain’s longest-reigning sovereign monarch, reigning for 70 years and 214 days at the helm in England. She had strong support from British citizens, and during her reign, the monarchy’s approval rating was sometimes as high as around 90%.

Author

  • Vinayak Rajagopalan

    Hi, I'm Vinayak Rajagopalan, Blockchain Consultant at Dconn. I stumbled into blockchain when I was an undergrad and a friend of mine introduced me to Bitcoin. I've never left it since. The one thing that got me so intrigued by blockchain is that it is not a zero-sum game. Once I realized that, all I wanted to do was tell more people about this revolutionary technology. This is my way of doing that.

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