A new niche spawned among meme coin traders recently: country coins. In anticipation of the Olympic Games set to happen in Paris in July, investors are betting that the event will boost the prices of different tokens with the names of countries.
A dashboard created by the X user identified as The Nouner is tracking 47 different country coins, which registered a trading volume of almost $18 million in the last 24 hours, and have a shared total market cap of nearly $110 million.
American Coin (USA) is close to $83 million valuation, which is the largest market cap of the bunch. According to DEX Screener, the USA has soared by over 74,000% since its inception on March 14 to its price peak on May 4.
China Coin (CHINA) comes as the second largest country coin by a long stretch, showing a $5.8 million market cap. Nevertheless, CHINA showed 23,000% growth from its creation to its all-time high seen on March 14.
Analyzing the last 24 hours, the recently deployed Palestine Coin (PALESTINE) holds the most significant growth as it leaps 764% at the time of writing. France Coin (FRA) and UK Coin (UK) are also showing relevant growth in the period, rising 120% and 145% respectively.
The list of country coins even includes the Olumpec Terch (OLUMPC) meme coin, which combines the Olympics narrative with the trend of meme coins spelling names wrong. From the creation of its liquidity pool until its all-time high registered on May 5, OLUMPC soared 6,400%.
