After Queen Elizabeth II’s passing, crypto degens have flooded the market with over 40 new Queen-related me tokens and hundreds of new nonfungible tokens (NFTs).
Names such as Queen Elizabeth Inu (Save the Queen), Queen, QueenDoge and London Bridge is Down were some of the new tokens that were launched on decentralized exchanges on Ethereum and BNB Smart Chain over the last 24 hours.
Data from Dex Screener shows that the Queen Elizabeth Inu token on BSC PancakeSwap had the largest price gain in the last 24 hours. It has a staggering 28,506% increase to $0.00008000 as of the time of writing.
The Elizabeth token has seen $2.7million worth of trade volume in less than 12 hours, and it is worth $391,000. It has seen a tremendous pump of 8,442%, putting it at $0.059931.
It is worth noting that Elizabeth and Queen Elizabeth Inu have only $17,000 and $204,000 respectively of liquidity. This indicates a lack of serious backing and the potential for a short-term pump and dump similar to last October’s infamous Squid Games token.
The crypto-hating community of r/Buttcoin, which numbers 135,000, has weighed in on the matter with user woliphirl making joke about how they were “feeling bullish” that the U.K. would adopt the Queen Elizabeth II Commemorate token to be their national currency within the next few weeks.
This was in response to a screengrabbed image from the r/cryptocurrency forum that was commenting on how embarrassing it looked for the entire crypto industry.
The RIP Queen Elizabeth project was also created on NFT marketplace OpenSea within hours of her passing.
The collection contains 520 NFTs, each with artistic representations of the queen and sinister undertones. The project has not yet seen much interest from collectors, with only 0.06 Ether ( ETH) in sales volume of approximately $101.
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It seems that NFTs are a sign that the creator of the project waited for the right time to launch the collection.
Queen Elizabeth II, who died at 96, was the longest-serving monarch of a sovereign nation. She served 70 years and 214 days as the head of England. She enjoyed strong support from English citizens, and had monarchy approval rates around 90% at times during the time she ruled.