Memecoins always go behind fun, scary, and happy moments. They are usually born out of unexpected life incidents of a person, company, or even animals. This time, the memcoin niche is witnessing the launch of tokens related to the death of political activist and Trump supporter Charlie Kirk, who was shot dead at an event at Utah Valley University in the US.
New meme tokens emerge after Charlie Kirk’s death
The death of Charlie Kirk led to the birth of memecoins such as ‘RIPCharlieKirk’ (CHARLIE) and ‘JusticeforCharlie’. CHARLIE token found its price at $0.0002919, with a 29.45% hike and $256.3 million in volume. The token even showcased a huge market cap within hours after launching.
Meanwhile, JusticeforCharlie, another token, reportedly saw significant growth soon after launch. Blockchain analysis platform DexScreener noted that there are multiple tokens by the same name that popped up following the tragic incident. Some of the JusticeforCharlie tokens experienced 10000% in the last 24 hours.
Critiques over the token launch
Experts in the crypto industry have registered their opinion regarding the token launch, calling it ridiculous. “How can someone’s murder be the Perfect time for a token launch?” asked Justin Wu, a Web3 analyst.
Moreover, crypto watchdogs have specifically urged investors to DYOR (Do Your Own Research), as many tokens launched related to the activist’s death are scams and can rug-pull them. “If you’re chasing the hype of the moment, you’re likely to get rugged. DYOR and stay safe”.
Incidents where memecoins have followed trends
The memecoin frenzy is typical after major events or when it centers around a public figure.
Queen Elizabeth II’s death in 2022 sparked madness in the meme world. More than Queen-themed tokens popped up within hours after her death.
Will Smith’s Oscars slap led to the rise of Will Smith Inu (WSI) token, which first surged following the launch, and then crashed.
Arnold Robert Haro, a 23-year-old crypto trader’s suicide sparked the launch of multiple memorial-style tokens, prompting widespread ethical backlash.
Apart from tragedies, memetokens have also followed personalities. Tokens inspired by US President Donald Trump, President Joe Biden, and rapper Kanye West have all emerged, showing how crypto communities take opportunities to turn figures, incidents, and more into tradable memes.
