In the fast-moving world of cryptocurrency, even the darkest news stories can trigger wild trading frenzies. This week, a sudden and dramatic price spike occurred when dozens of new tokens referencing a high-profile shooting were launched on the trading platform Pump.Fun.
One token in particular, RIP CHARLIE KIRK (CHARLIE), became the most talked-about coin on the platform. Within hours of its creation, the token’s price exploded by more than 85,000%. Traders rushed in, chasing rapid gains as news of the incident spread across social media.
At its peak, the token reached a market cap of more than $5 million. Hourly trading volume soared past $3 million, showing just how quickly hype can fuel the rise of a memecoin. But like most sudden surges in this corner of crypto, the climb didn’t last long. Prices fell just as sharply as they had risen, leaving many latecomers with steep losses.
Dozens of Morbid Memecoins Appear
The token frenzy did not stop at just one coin. Within a few hours, at least 31 different memecoins tied to the incident were launched on Pump.Fun. Many carried variations of the same theme, using names like “Rest in Peace Charlie Kirk” or referencing the weapon linked to the attack.
Some traders also revived older tokens that had been created earlier but had little attention until now. The sudden interest brought fresh activity to those coins as well, though none reached the same viral status as the main CHARLIE token.
Kirk is neither a martyr nor a hero, he is a cause who incited violence for years
The speed at which these tokens appeared highlights a unique part of the crypto world. On Pump.Fun and similar platforms, anyone can create a token within minutes. With such low barriers, new coins tied to breaking news often flood the market almost instantly.
This pattern is not new. When news headlines capture public attention, traders often rush to create or buy tokens that play on the story. The result is usually a short-lived spike in price, followed by an equally quick crash once the excitement fades.
A Pattern of Dark-Themed Tokens
The rise and fall of the CHARLIE token is the latest example in a long list of morbid memecoins that briefly capture trader attention. Earlier in September, a token called Justice for Iryna (IRYNA) surged to a market cap of $8.45 million after the fatal stabbing of a woman in Charlotte made national headlines.
Earlier this year, another coin gained traction under unusual circumstances when an online personality tragically livestreamed his own death. His final words urged viewers to “make it a memecoin.” Traders quickly launched a token in his name, which briefly reached a market cap of $2.1 million before fading.
These examples show how quickly crypto communities seize on shocking events to create viral tokens. While the attention often pushes prices sky-high in the first few hours, the pattern is always the same: the gains vanish quickly, leaving traders who bought late with heavy losses.
In the case of the CHARLIE token, the numbers were dramatic. An 85,000% surge in such a short span is rare even in the wild world of memecoins. But the crash was just as swift. What looked like an opportunity for huge profit turned into another cautionary tale of how unpredictable and risky meme-driven tokens can be.
