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Following the passing of Queen Elizabeth II, crypto degens lost no time in dumping more than 40 new Queen-related meme tokens and hundreds of other nonfungible tokens (NFTs) in the same spirit onto the crypto market.
Over the past 24 hours, new coins with names like Queen Elizabeth Inu, Save the Queen, Queen, QueenDoge, London Bridge is Down, and Rip Queen Elizabeth have been introduced on decentralized exchanges on the BNB Smart Chain and Ethereum.
The Queen Elizabeth Inu token on BSC-based PancakeSwap has now experienced the most price value boost over the past 24 hours, with an eye-watering 28,506% pump to $0.00008000 at the time of writing, according to statistics from Dex Screener.
However, the Elizabeth token, which has witnessed $2.7 million worth of trade volume in less than 12 hours, dwarfs it with a $391,000 24-hour transaction volume. The asset has also experienced a parabolic 8,442% pump, sitting at $0.059931.
It's important to note that Queen Elizabeth Inu and Elizabeth only have $17,000 and $204,000 in liquid assets, respectively. This shows a lack of solid support and the possibility of a quick pump and dump, like the infamous Squid Games token that crashed and burned in October of last year.
Of course, the 135,000-member r/Buttcoin crypto-hating group has weighed in on the issue, with user woliphirl saying that they were "feeling bullish the U.K. will soon adopt the Queen Elizabeth II Commemorative token as their official money.
This was in reaction to a screenshot of a comment made in a post in the r/cryptocurrency community about how embarrassing this is for the entire crypto business.
Within hours of the queen's passing, the RIP Queen Elizabeth project appeared on the NFT marketplace OpenSea.
Each of the 520 NFTs in the collection depicts the queen in an artistic manner with ominous overtones. The project has only earned 0.06 Ether (ETH) worth of selling volume, which is equivalent to about $101. This suggests that collectors have not yet gotten behind the idea.
Since there are so many NFTs in the collection, it appears that the project's author was waiting for the ideal time to introduce it.
With 70 years and 214 days as head of state in England, Queen Elizabeth II passed away at the age of 96. She was the queen of a sovereign state for the longest period of time. She enjoyed widespread popularity from the populace of England and occasionally maintained royal approval ratings of close to 90%.