NFT and Queen Elizabeth Memecoin dominate the cryptocurrency markets

Moments after Buckingham Palace announced the death of Queen Elizabeth II, cryptocurrency players, NFT vendors, and Web3 enthusiasts rushed to enjoy the attention of the world. Shortly after the official announcement of her death, around 6:30 pm in London, some cryptocurrency exchanges were inundated with thousands of newly minted Queen-themed non-fungible tokens (NFTs) and a sea of ​​cryptocurrencies linked to the queen. Do you also find it exaggerated? Here are the details!

Race for Queen’s NFT turns on the net

The sudden rush to NFTs in the guise of the late queen has ignited discussion boards. Incidentally, a Reddit user by the name of “woliphirl” has been seen joking that he is convinced that the UK will replace the pound with Queen Elizabeth II tokens very soon. In response to that, another Reddit user said he was very embarrassed by how the cryptocurrency industry was also inundated with queen tokens at a time like this.

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

An unrealistic race

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

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

Victory

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

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