Memecoins
England players’ memecoins plummet ahead of decisive EURO 2024 clash
Fan tokens based on members of England’s Euro 2024 squad, including Jude Bellingham, manager Gareth Southgate and captain Harry Kane, have all seen their prices plummet ahead of the crucial quarter-final clash against Switzerland on Saturday.
The tokens were created to capitalize on the hype surrounding the quadrennial tournament. However, it didn’t take long for them to be labeled as scams. Indeed, when discussing the Captain Harry Kane token ($CHK), Russian cybersecurity vendor Kaspersky said:
“Hackers are taking advantage of the popularity of Euro 2024 to sell customised coins featuring the most popular players, promising impressive returns.”
The room has has fallen nearly 99.9% from its all-time high June 6th.
Branding from the play by Captain Harry Kane.
Other team-based tokens, including $JUDE (Jude Bellingham) and $GARETH (Gareth Southgate), also didn’t fare well. Bellingham managed to save England from an embarrassing exit from the tournament with a spectacular last-minute bicycle kick goal on Sunday.
The goal caused the price of $JUDE to rise, increasing by almost 77% to $0.00004237, but fell back to $0.00001885 an hour later.
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Overall, the token has dropped by around 98% from a high of $0.00062392 to $0.00001344 today, with a current 24-hour trading volume of $54. The Gareth Southgate token has also crushed by 95% since its historic high on June 10.
Another token took the appearance of Pepe the Frog and combined it with a soccer ball to supposedly “bridge the gap between soccer and Web3, one meme at a time.” This project also crushed 95% from its all-time high of $0.059475 on May 19.
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