That’s because these “penny cryptos” are frequently the playground for scam artists and market manipulators. On Low-Capitalization and Low-Volume Cryptocurrencies: InvestorPlace does not regularly publish commentary about cryptocurrencies that have a market capitalization less than $100 million or trade with volume less than $100,000 each day. Still, their long-term future remains questionable at best. That may also help Queen Elizabeth cryptos rise in the short term. Some investors may be searching for NFTs dedicated to the late monarch to purchase before their value rises. As a beloved public figure, Queen Elizabeth II-themed non-fungible tokens may rise in value over the coming months. NFT investing can be seen as a means of investing in a celebrity’s legacy, as demonstrated by the NFT drops of Garry Kasparov and Kobe Bryant. Fortune reports that, just after the Queen’s passing, “OpenSea and crypto exchanges were flooded with thousands of newly minted Queen-themed artworks.” That said, new Queen Elizabeth NFTs may help some investors turn a profit, as there are plenty of fans looking to pay homage to her memory.
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As interest in the Queens’ passing ultimately fades, so too will the value of the queen-themed crypto line. Even tentative links to Elon Musk haven’t helped the pupcoins that inspired Queen Elizabeth Inu stay in the green. After all, news and fad-themed cryptos don’t tend to demonstrate real value, as we’ve seen from Tiger King Coin ( TKING-USD) and its odd token peers.Īs seasoned investors already know, cryptos must demonstrate real world value in order to achieve sustainable growth. That’s likely what we’ll see from these queen-themed tokens. SQUID failed to sustain real momentum after its initial pop, quickly slipping deep into the red. As InvestorPlace’s Brenden Rearick predicted, though, SQUID’s gains turned to be “far too good to be true.” Like Queen Elizabeth Inu, the token quickly surged in value.
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When hit Netflix (NASDAQ: NFLX) series Squid Game captured the world’s fascination in late 2021, opportunist developers quickly launched a token to cash in on the hype. It’s true that the rise of Queen Elizabeth cryptos calls to mind the Squid Game ( SQUID- USD) crypto phenomenon. “It’s worth noting that both Queen Elizabeth Inu and Elizabeth have just $17,000 and $204,000 worth of liquidity behind them, indicating a lack of serious backing behind and a potential for short-lived pump and dump, similar to the infamous Squid Games token that crashed and burned in October last year.” However, the outlet explains that these cryptos lack any real liquidity: Citing data from Dex Screener, CoinTelegraph reports that Queen Elizabeth Inu recently spiked more than 28,500%, reaching $0.00008 per token. Some of these Queen Elizabeth cryptos have also even performed well in their limited lifespan. The growing list includes names like Queen Elizabeth Inu, Save the Queen, QueenDoge, Rip Queen Elizabeth and London Bridge is Down. PATRIOTS is a registered trademark of the Patriots Wire LLC.Over the past 24 hours, developers have launched many Queen Elizabeth II-themed cryptos on the Binance ( BNB-USD) Smart Chain and Ethereum ( ETH-USD) blockchain networks. This site is neither endorsed, nor sponsored by, nor affiliated with Patriots Wire or NFL Properties LLC. Your California Privacy Rights/Privacy Policy.