The crypto market frequently seizes opportunities to create new cryptocurrencies or non-fungible tokens (NFTs) around various events. Just under 24 hours following the death of former One Direction singer Liam Payne on October 16, at least 150 memecoins were launched as a means of paying “tribute.”
News regarding Liam Payne’s death emerged online around 5 PM in Argentina (UTC−3). Payne fell from the third-floor balcony of the Casa Sur hotel in Buenos Aires shortly after the hotel officers had contacted 911 to report an “aggressive man who could be under the influence of drugs or alcohol.”
Liam Payne Memecoins Flood the Crypto Market
In the wake of his death, the cryptocurrency market experienced a surge of various memecoins aiming to capitalize on the news surrounding the singer’s passing.
While some of these Liam Payne tokens are deployed across different blockchains like SUI, Ethereum, and Tron, the majority of these meme cryptocurrencies were created on the Solana-based Pump.fun platform, which supports fair launches of meme coins via a distinctive bonding curve pricing model.
Liam Payne memecoins list | Pump.fun
Most of the Payne memecoins on Pump.fun portrays themselves as tributes to the artist, his dog, or his legacy. They generally describe themselves as the crypto community honoring the enduring influence of Liam Payne’s life and music.
A particular one called “RIP Liam Payne (PAYNE)” was launched around 19 hours ago from press time and claims to make “his memory live on.” The coin states that 10% of all proceeds will be given to his family, and another 10% will be allocated to a charity he supported during his lifetime.
However, most of these memecoins haven’t experienced significant increases, as many display an average market capitalization of only $4,000 on Pump.fun.
Good or Bad Intentions?
As expected, numerous Liam Payne memecoins are also characterized as pump and dump schemes. Dex Screener data indicates that some have plummeted by as much as 99% shortly after their launch.
It’s worth noting that many of these memecoins seem to be exploiting the tragic passing of the music star, cashing out, and then dumping on early investors.
At the same time, we may see a few Liam Payne memecoins thrive by building a dedicated community around their project, potentially surpassing a market capitalization of a million.
Such trends are not new in crypto, where events often inspire the creation of memecoins, a cryptocurrency typically named after popular figures, animals, or cultural themes. A similar situation has been seen with the upcoming presidential election in the United States.
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Nevertheless, one must be cautious while trading or investing in these types of meme coins, as they remain the most volatile.
