It’s not untypical to create cryptocurrency coins to hop on popular events or trends. Unsurprisingly, one group of cryptobros tried to hop on arguably the biggest event of the decade: the death of Queen Elizabeth II.
Like vultures to bones, a horde of cryptobros swarmed to make their own cryptocurrency about the dead Queen. But did any of them actually work out?
Cryptobros make Queen Elizabeth II coin
Shortly after news of the Queen‘s death was announced, a large number of crypto coins were created. According to The Washington Post, more than 40 different coins were minted related to the Deceased Queen.
Most of these coins died immediately, entering the blockchain and then fizzling out. However, some cryptobros are investing in currencies and profiling off the death of the Queen.
For example, Queen Elizabeth Inu — based on the popular Shiba Inu coin — is still going. However, this coin is not long for widespread success. In just a few days, the crypto token surged and fell by 30,000%. Currently, it sits at a worth of $0.000003 per coin.
These coins are all meme coins, currencies designed to become popular on the basis of a joke. Nevertheless, some meme coins take off, such as the popular Shiba Inu crypto coin. The surge of Queen Elizabeth II coins are not anywhere near as popular.
Despite being one of the lower value coins, a number of cryptobros were still investing prior to the Queen’s official funeral. A number of investors were hoping that the funeral would increase the coin’s value, allowing them to cash out and profit.
In a Telegram group for the cryptocurrency, one user expressed excitement for the funeral’s effect on profit. ““$50k is EASY with this coin! I do believe when the funeral comes this coin will get $500k,” a commenter said.“Funeral day incoming. FILL THOSE BAGS,” said another.
However, that promised surge never arrived. In fact, the coin has been in an almost-constant state of decline. Following the funeral, the coin sits at an even lower valuation of $0.000000037.
Despite being based on one of the biggest events of the year, the Queen Elizabeth meme coins never reached the virality that cryptobros were hoping for. Maybe next funeral.