The recent appointment of Robert Francis Prevost as the new pope of the Catholic Church triggered a wave of unexpected activity in the crypto market.

Following his election under the name Leo XIV, a series of memecoins connected to his figure experienced sharp price spikes, driven by speculation and rapid viral exposure

The recent appointment of Robert Francis Prevost as the new pope of the Catholic Church has sparked a flurry of activity in the crypto market, as several memecoins linked to the papal figure experienced sharp price spikes.

Following his election on Monday under the name Leo XIV, a series of tokens created on the Solana network and available exclusively on decentralized exchanges saw their value multiply. The price increases were fueled by speculation and rapid viral exposure across various crypto communities.

The memecoins were designed to capitalize on the media frenzy generated by the rise of the first U.S.-born pope, converging with the speculative essence of the crypto market.

POPE267 and POPE69

Among the tokens that drew attention was POPE267, named after Leo XIV’s position as the 267th pope. The memecoin posted a 1,080% gain in just 24 hours, pushing its market capitalization past $60 million. Its price surged from $0.005 to $0.06.

The token’s price action was driven by a sharp increase in trading activity, with over $14 million in volume passing through the memecoin in 24 hours. However, it’s worth noting that these figures were generated in very low liquidity conditions.

Another token that drew interest was POPE69, a reference to Prevost’s age at the time of his appointment. Its value rose by 180%, lifting its market capitalization to $741,630.

Both memecoins are fundamentally speculative ventures typical of the crypto market, with no underlying utility or institutional backing.

CoinMarketCap Issues Caution

CoinMarketCap has issued a warning about these memecoins, highlighting that they have not undergone any validation processes from the platform.

“CoinMarketCap does not guarantee the accuracy of the data of these tokens and warns all users to exercise caution and perform their own research before investing in any of these assets,” the crypto data provider stated.

It added that tokens of this kind are prone to sudden price swings and risks tied to low liquidity.

“Users are advised to be aware of the risks involved and invest in cryptocurrencies and other assets at their own discretion and risk.”

From St. Peter’s Square, Pope Leo XIV delivered his first address as pontiff on Monday evening, calling for unity within the Church and acknowledging the work of his predecessor, the late Pope Francis.

While these speculative crypto initiatives have no formal connection to the Vatican or institutional backing, they highlight how certain social and religious events can find a place within the speculative dynamic of the crypto market.