NFTs and Queen Elizabeth Memecoins Dominate Crypto Markets

Moments after Buckingham Palace announced the death of Queen Elizabeth II, cryptocurrency players, NFT sellers and Web3 enthusiasts were rushing to enjoy the attention of the world. Shortly after the official announcement of her passing, around 6:30 p.m. in London, some cryptocurrency exchanges were flooded with thousands of newly minted Queen-themed non-fungible tokens (NFTs) and a sea of ​​Queen-related cryptocurrencies. . Do you also find that this is exaggerated? Here are the details !

Race for Queen’s NFTs ignites the net

The sudden race for NFTs bearing the likeness of the late Queen has ignited discussion forums. Incidentally, a Reddit user by the name of “woliphirl” has been seen to joke that he is convinced that the UK will replace the Pound Sterling with Queen Elizabeth II tokens very soon. In response to this, another Reddit user said he was very embarrassed by how the crypto industry was inundated with even queen tokens at a time like this.

Additionally, cryptodegenerators have already created over 520 collections of NFTs, featuring renderings of the queen with sinister overtones. Note that Queen Elizabeth II died at the age of 96. She was the longest-serving monarch of a sovereign country, having served 70 years and 214 days as ruler of England. Queen Elizabeth enjoyed the full support of citizens and recorded monarch approval ratings of around 90% during her reign. Faced with all its nobility, one can ask questions about the wickedness of those who created these memecoins.

An unrealistic race

Shortly after the Queen’s passing, the developers and creators of NFT launched numerous Queen Elizabeth II-themed cryptocurrencies on the Binance Smart Chain (BNB-USD) and Ethereum blockchain networks ( ETH-USD). On the long list of Queen NFTs are names like Queen Elizabeth Inu, Save the Queen, QueenDoge, Rip Queen Elizabeth and London Bridge is Down. Some of these Queen Elizabeth cryptos have even performed well during their limited lifespan. According to reliable data, it was the Queen Elizabeth Inu that spiked over 28,500%, reaching $0.00008 per token.

It is true that the sudden success of NFTs and Queen Elizabeth cryptos is reminiscent of the phenomenon of Squid Game cryptos (SQUID-USD). Indeed, when Netflix’s hit series Squid Game sparked worldwide fascination in late 2021, opportunistic developers quickly launched a token to cash in on the craze. Like Queen Elizabeth Inu, the token quickly rose in value. However, as InvestorPlace’s Brenden Rearick predicted, SQUID’s gains turned out to be unrealistic.

Victoria

Passionate about cryptos, NFTs and more generally everything related to Blockain, I share all my advice with you on my blog! Attention, I am not an expert and what I say should absolutely not be taken as an absolute truth. I am not an investment advisor 🙂

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NFTs and Queen Elizabeth Memecoins Dominate Crypto Markets


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