The big news of yesterday is the death of Queen Elizabeth II. The event, however, is a moment when the vultures wake up again; more than 40 meme crypto were created shortly after the death became known.
Queen Elizabeth II crypto on Ethereum
Out of dates on DexScreener It appears that more than 40 Queen-related cryptocurrencies have been launched on Ethereum (ETH) and Binance’s BNB chain (BNB). The names of these cryptocurrencies range from “RIP Queen Elizabeth” to, yes, “Queen Elizabeth Inu” and “Queen Doge.”
In principle, anyone can create a crypto. Especially when we are talking about a token it is quite simple to make your own coin, such as Binance Academy explains here. Not entirely surprising, then, that dozens of meme crypto were born out of nowhere.
Queen Elizabeth Inu 50,000% up
Some of the crypto seems to be doing well. This is how Queen Elizabeth Inu almost stands 50,000% in the plus at the time of writing. However, it is not clear whether this is the result of organic growth or wash trading. In addition, it is likely that this rise will not be sustainable and that a collapse will soon follow.
Where the crypto community is normally up for a bit of black humor, that is not so obvious in this case. For example, the trader Byzantine General states in a tweet:
“Brother, let’s go. We need to stop this crypto shit.”
Bro let’s just pack it up.
We gotta stop this crypto shit. pic.twitter.com/EQIWuVKkiy
— Byzantine General (@ByzGeneral) September 8, 2022
Meme coins are not rare by the way and are more often mentioned in the crypto news. We have cryptocurrencies such as shiba inu (SHIB) and dogecoin (DOGE). The latter is arguably billionaire Elon Musk’s favorite coin. Last month he said that Dogecoin is better than Bitcoin (BTC).