Memecoins Inspired by Pope Leo XIV Surged on Thursday

Memecoins inspired by Pope Leo XIV surged on Thursday after the U.S.-born priest was elected as the new global head of the Catholic Church.

Memecoins inspired by Pope Leo XIV surged on Thursday after the U.S.-born priest was elected as the new global head of the Catholic Church.

Solana SOL/USD-based POPE267 soared 1080% in the last 24 hours, garnering a market capitalization of over $60 million, according to CoinMarketCap. Over $14 million worth of tokens were traded in the last 24 hours.

The memecoin refers to Leo XIV’s election as the Catholic Church’s 267th leader.

Similarly, a memecoin called POPE69, which mentions his age, shot up 180% to a market valuation of $741,630.

Note that these tokens operated at shallow liquidity and could only be traded on Solana-based decentralized exchanges. CoinMarketCap issued a disclaimer stating that the memecoins have yet to be validated and advised traders to DYOR.

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Why It Matters: The surge followed the election of Leo XIV, born Robert Francis Prevost, as the new Pope, succeeding the late Pope Francis.

Prevost, the first American pope, was widely considered a long shot for the papacy.

In his remarks on the balcony of St. Peter’s Basilica on Thursday, Leo XIV called for the church to “build bridges” while paying tribute to Pope Francis.

Benzinga Point: Investing in meme coins with shallow liquidity can be highly speculative and carries significant risk. Such meme coins may lack intrinsic value and are susceptible to manipulation.

Photo Courtesy: Marco Iacobucci Epp On Shutterstock.com