TL;DR
- The POPE267 memecoin surged 1,080% inside 24 hours following the appointment of Leo XIV, hitting a $60M market cap with $14M traded on Solana-based exchanges.
- POPE69, one other token tied to the brand new pope’s age, jumped 180% and reached a market cap of $741,630 in lower than a day.
- CoinMarketCap issued a warning about the shortage of validation for these tokens, highlighting their excessive volatility and liquidity dangers.
The current appointment of Robert Francis Prevost as the brand new pope of the Catholic Church triggered a wave of sudden exercise within the crypto market.
Following his election beneath the identify Leo XIV, a collection of memecoins related to his determine skilled sharp value spikes, pushed by hypothesis and speedy viral publicity throughout varied crypto communities. These tokens had been created on the Solana community and can be found completely on decentralized exchanges. They had been designed to capitalize on the media frenzy generated by the rise of the primary U.S.-born pope.
POPE267 and POPE69
Among the many tokens that captured market consideration was POPE267, named after Leo XIV’s place because the 267th pope. The memecoin posted a 1,080% achieve in simply 24 hours, pushing its market capitalization previous $60 million. Buying and selling quantity topped $14 million throughout that very same interval, regardless of restricted liquidity circumstances.
One other token that stirred up hypothesis was POPE69, referencing Prevost’s age on the time of his appointment. Its worth rose by 180%, lifting its market capitalization to $741,630. Each memecoins emerged as speculative ventures typical of the crypto market.
CoinMarketCap Warns About Papal Memecoin Volatility
CoinMarketCap issued a cautionary be aware about these memecoins, mentioning that they haven’t undergone any validation processes. The platform suggested customers to proceed with warning and conduct their very own analysis earlier than investing in these belongings. It additionally emphasised that tokens of this sort are liable to sudden value swings and dangers tied to low liquidity.
From St. Peter’s Sq., Pope Leo XIV delivered his first handle as pontiff, calling for unity inside the Church and acknowledging the work of his predecessor, the late Pope Francis. Whereas these speculative crypto initiatives don’t have any formal connection to the Vatican or institutional backing, they mirror how sure social and spiritual occasions can discover a place inside the speculative dynamic of the crypto market
