Iran Threatens Strait of Hormuz Shutdown—Digital Oil Memecoin Rockets 400% as Traders Bet on Chaos
Geopolitical tensions send crypto speculators into overdrive
When the guns go off, buy the meme
Iran's latest saber-rattling over blocking the world's most critical oil chokepoint triggered an absurd 400% moonshot for a token literally called 'Digital Oil'—because nothing hedges global instability like a JPEG of a barrel with cartoon eyes. Meanwhile, Brent crude barely budged. Priorities.
Traders front-run WWIII (again)
The memecoin pump mirrors 2022's 'PutinCoin' debacle, where a token surged 1,000% during Ukraine invasion rumors before collapsing 98%. History rhymes—especially when retail 'degens' treat nuclear brinksmanship as a trading signal.
Real-world consequences, digital gambling
While actual oil tankers reroute and insurance premiums spike, crypto's casino economy thrives on catastrophe porn. The ultimate irony? This token runs on Ethereum—a chain that still can't scale beyond 15 TPS. At least the apocalypse will be decentralized.
Bonus jab: Goldman Sachs analysts reportedly bought the top.
"Fading the most geopolitically advantaged memecoin AND the ONLY coin endorsed by Peter Schiff himself? COULDN'T BE ME.... $OIL," an X handle supposedly associated with the memecoin, said on the social media platform.
The token came into existence early this year after vocal cryptocurrency and bitcoin critic Peter Schiff published a post on X supporting the idea of creating a digital oil.
