Crypto cash-in as ‘meme currency’ seeks to capitalize on Queen’s death

Her Majesty’s death has resulted in the creation of a series of so-called “meme coins” intended to take advantage of this event.

Around 40 new coins were created with names like “London Bridge Collapses”, “Queen Elizabeth Inouye” and “Save the Queen”.

Memecoins are cryptocurrencies created with likenesses or names associated with viral or news-related events in the hope that people will want to buy and trade them.

And as the news of our monarch’s death spread around the world, many jumped at the opportunity to create queen-themed coins to make some money.

Queen Elizabeth Innu coin activity increased by 18,688% in the last 24 hours, reaching $200,000 (£174,000) in trading volume. According to Dex Screener, the value of the “Save The Queen” coin was even higher at $700,000 (£608,000).

It goes without saying that the price of these coins is very volatile and they cannot maintain their value in the long term.

Cryptocurrencies are a completely unregulated market, and the people behind the Queen-based tokens are simply trying to capitalize on the death of Queen.

In fact, the coin’s creation received a lot of scorn from the larger crypto community.

Some coins bearing the name of the new King Carlos III are also on the market.

The queen is said to have died peacefully at her bedside in Balmoral, Scotland, with the current King Charles and Princess Anne.

The family, including Princes William, Harry and Edward, sadly missed the opportunity to say goodbye in person, according to the report.

The country entered a formal period of mourning that lasted seven days after the funeral.