Queen’s death sees crypto markets flooded with sick ‘memecoins’ about her

Posted on : September 9, 2022

In the hours since Queen Elizabeth's death, millions of people have paid tribute to the late monarch. But in darker corners of the Internet, some cryptocurrency and NFT enthusiasts have sought to make light and even profit off of the situation.

More than 40 Queen-related cryptocurrency tokens (which are similar to Bitcoin) have popped up on various cryptocurrency exchanges with names like 'Rip Queen Elizabeth', 'London Bridge is Down', and 'Save The Queen'.

One coin, the Queen Elizabeth Inu token, has skyrocketed in value by 28,506% over the last 24 hours.

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Meanwhile, the 'Elizabeth' token has seen more than £2.3million worth of trade volume since yesterday.

NFT creators have also launched the 'RIP Queen Elizabeth' project, which sees people trade in garish cartoon likenesses of the late monarch.

One Reddit user said: "It's a bad look for crypto when mere hours after the passing of the Queen Elizabeth already over 30 new tokens on [Binance] Smart chain and Ethereum have been launched."

Queen Elizabeth II died 'peacefully' at her Balmoral residence in Scotland yesterday, aged 96. World leaders and British politicians alike have spent the day paying tribute as the country begins 10 days of 'official mourning'.

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The new Prime Minister Liz Truss, who was chosen as Britain's new leader by several thousand Conservative Party members just this month, led tributes to the late monarch in the House of Commons today.

Truss said: “We have witnessed the most heartfelt outpouring of loss and grief. She was the rock on which modern Britain was built. The United Kingdom is the great country it is today because of her.”

Meanwhile, the new King Charles III has been greeting well-wishers outside Buckingham Palace, even being kissed on the hand by a royal fan.

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