The price of the Queen Elizabeth Inu token on the Binance Smart Chain-based blockchain increased by an astounding 47,655% in the last day, pushing the price to $0.0001335 at the time of writing.
That's according to Dex Screener, a platform that tracks trading history and price charts.
The Inu token was just one of more than 40 new Queen-themed meme tokens and non-fungible tokens (NFTs) that cropped up in the crypto market less than a day after Queen Elizabeth II's passing.
Crypto grifters have seized the opportunity to launch over 40 Queen-themed meme coins on Ethereum and Binance’s BNB Chain, just hours after she passed. pic.twitter.com/2HbDEkBm5h
— Zazoo Me (@Zazoo_Me) September 9, 2022
They were introduced on a number of decentralized exchanges, including the Binance Smart Chain and Ethereum.
See Also: UK Bank Notes With Queen Elizabeth's Image: Will They Remain Legal Tender?
Coins bearing the names King Charles Inu, Save the Queen London Bridge is Down, RIP Queen Elizabeth, and Save the Queen also appeared.
In addition, the trading volume of the Elizabeth token, another meme coin, increased, reaching $3.3 million in the previous day and a total market value of $6.6 million.
The meme coin (essentially a spoof of the cryptocurrency market) is currently trading at $0.000005253.
The amount of liquidity behind these meme currencies serves as another evidence of the lack of seriousness that is behind these types of schemes.
The Elizabeth token has a liquidity of $204,000 compared to the $17,000 of the Queen Elizabeth Inu.
These Queen Elizabeth II tokens have characteristics with several of the notorious pump-and-dump schemes, like last year's Squid Games token, raising the possibility that they are frauds.
One such NFT project is the RIP The Queen Official, which has about 520 NFTs and has artwork that represents Queen Elizabeth II.
Despite being offered on the OpenSea NFT marketplace, few customers have chosen to purchase the digital artwork, since it has only been able to earn 0.06 ETH or $101 at the moment.
The collection suggests that the maker of the NFTs waited for the ideal occasion to launch these Queen Elizabeth II NFTs.
In addition to this, a number of artists have posted their interpretations of the queen's image on Twitter.
See Also: Queen Elizabeth II's Funeral - When And How To Watch The Proceedings
Queen Elizabeth II, who ruled for 70 years and was the longest-reigning monarch in British history, passed away on Thursday, Sept. 8, at the age of 96.
She died at Balmoral, her Scottish estate, where she had spent much of the summer due to ill health.
