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POPE memecoin soars 770% amid speculation over papal succession
A cryptocurrency inspired by Cardinal Secretary of State Pietro Parolin soared in value on Monday, as online speculation intensified over who might succeed the late Pope Francis, reported Benzinga.
A Solana-based token named POPE, themed around Cardinal Parolin, jumped 770 per cent in the past 24 hours, reaching a market cap of $260,930, according to CoinMarketCap. Another memecoin honouring Cardinal Luis Antonio Tagle, a prominent figure in the Catholic Church, also skyrocketed by 1,012 per cent during the same period.
Both tokens are thinly traded and currently available only on Raydium, a decentralised exchange built on the Solana network. CoinMarketCap has issued a disclaimer, noting that these tokens are not yet verified and advising traders to 'do your own research (DYOR).'
The surge in these religious-themed memecoins comes as the world waits to see who will become the next head of the Catholic Church. Pope Francis passed away at age 88, leaving a vacancy at the highest level of the Vatican.
On Polymarket, a crypto-based prediction platform, Cardinal Parolin leads the betting with a 34 per cent chance of becoming the next pope. Cardinal Tagle follows with 23 per cent. So far, over $3 million has been bet on the outcome.
Another prediction market shows a 65 per cent chance that the next pope will be European, and a 22 per cent chance that he will be Asian. Cardinal Parolin is Italian, while Cardinal Tagle is from the Philippines.
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