Key Notes
- Critics on social media condemned the trend as unethical exploitation of a tragedy concerning Charlie Kirk’s death.
- Reports suggest one token creator made nearly $300,000 in fees within an hour of launch.
- Watchdogs warned that most of these tokens show classic scam patterns, with insiders cashing out and 700+ new wallets.
Founder of Turning Point USA and prominent conservative activist Charlie Kirk was shot dead on Sept. 10, during a public event in Utah. The incident drew the attention of US President Donald Trump, sparking widespread outrage in the political landscape. Some opportunists from the crypto space have used this tragic event to launch meme coins.
Charlie Kirk Meme Coins
Commenting on activist Charlie Kirk’s death, Trump called it a “dark moment for America.” He also promised to find those responsible for it.
While many expressed grief, opportunists from the crypto space quickly launched meme tokens tied to the tragedy. Data from DexScreener shows that multiple “Justice for Charlie” tokens appeared shortly after the news, some skyrocketing more than 10,000% within 24 hours.
On Solana’s meme coin platform pump.fun, tokens such as RIPCharlieKirk and JusticeforCharlie saw dramatic surges, hitting multi-million-dollar market caps within hours. Moreover, similar tokens emerged across other platforms, facing extreme volatility.
Users on X condemned the trend, criticizing developers for exploiting a tragedy for profit. One user pointed out that Solana memecoin creators were treating Kirk’s death as a “launchpad,” calling it absolutely ethical.
Reports indicate that one token creator earned nearly $300,000 in fees within just an hour of launching a Charlie Kirk-themed coin.
Creator mints 300K in Charlie Kirk-themed coin | Source: GritCult
Scams and Rug Pull Chances Emerge
Crypto watchdog Crypto Rug Muncher has warned that most of the trending Charlie Kirk-themed tokens are likely scams. He pointed out that insiders of the largest token have already cashed out hundreds of thousands of dollars.
Analytics platform GMGN also raised alarms, noting the sudden appearance of more than 700 new wallets, raising doubts of bundling tactics and potential rug-pull activity. These are similar to the pump and dump cycles seen in the crypto market.
Recently, “Justice for Iryna” tokens spiked on speculation before collapsing. Analysts estimate that developers behind both the Charlie Kirk and Iryna tokens have collectively made nearly $2 million.
Market observers caution that such politically charged tokens are short-lived speculative bets. They tend to surge on shocking headlines but fail to sustain value over the long term.
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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
Bhushan Akolkar on X
Source: https://www.coinspeaker.com/launch-meme-coin-mourning-charlie-kirk/
