A number of meme cryptocurrencies have been bourne out of her death.
Shitcoins is one of the terms used to refer to certain cryptocurrencies. It is a derogatory term that seeks to point out assets that are fraudulent, are not attractive, do not contribute anything, or have failed.
Benjamin Isaza, trader at BeInCrypto en Español, comments that shitcoins are “digital currencies that people believe are valuable just because they exist. They generally have low market caps, allowing a small number of investors to manipulate prices with little effort.”
On the other hand, although a MemeCoin can end up converted into a ShitCoin or can be conceived as such. However, some Meme cryptocurrencies, such as Dogecoin, do not qualify for junk status as they have known teams, identifiable projects, and recognizable milestones.
Queen Elizabeth Inu
Queen Elizabeth Inu is now a thing. In fact, it is “a thing” 40 times more. Shitcoins and meme cryptocurrencies are pouring out of the networks at an astonishing rate.
Elizabeth II was Queen of the United Kingdom from February 1952 until her death last night. She reigned for 70 years and 214 days. This was the longest reign of any British monarch. At the time of her death, Queen Elizabeth II was the queen of 14 other Commonwealth realms, including Australia, New Zealand, and Canada.
While fans of the monarchy were saddened by Her Majesty’s passing, coin projects took advantage of free publicity. They launched royal-themed tokens on Binance’s BNB chain and on Ethereum.
Sad moments for some do not mean mourning for others. Surprisingly, Queen Elizabeth Inu cried. And the Save the Queen chips are on the same path.
According to the Twitter account @Zazoo_Me, “cryptocurrency scammers have seized the opportunity to launch over 40 Queen-themed meme cryptocurrencies on Ethereum and Binance’s BNB chain, just hours after her passing.”
So far, the 40+ crypto coins and NFT dumps are selling with mind-boggling trading volume.
The account names the coins as follows:
- Queen Elizabeth Inu
- Queen Doge
- God Save The Queen
- London Bridge Is Down
- Queen Grow
- Rip Queen Elizabeth
- Elizabeth II
- Queen Inu II
The account says that prices are extremely volatile and “highly unlikely to sustain on their own. The most liquid tokens have already processed $900,000 in trading volume: Save the Queen $700,000, Queen Elizabeth Inu $200,000.”
King Charles Inu
Tokens bearing the name of the new overlord of the Commonwealth, King Charles III, also appear on the scene.
King Charles Inu (CHARLES) is already off to a great start and is expected to continue to climb considering the publicity that will come from his impending coronation.
There seems to be no limit to the shitcoins and meme cryptocurrencies that the crypto community will buy. God save the king. Looks like people are going to need a lot of savings.
Nevertheless, investing in shitcoins seems to be a bad decision, since they are high risk and rarely offer rewards. At a time when crypto tulip mania and the cryptocurrency bubble have already burst, discerning fundamental studies in which digital assets to invest is essential.
By Audy Castaneda
