- LUCE token surges 100% after reports of Pope Francis’ death.
- Volume jumps over 400%, reigniting meme coin mania.
- Analysts warn against hype; XRP offers institutional contrast.
Vatican-themed memecoin LUCE stunned markets with a 101.13% surge Monday following the official Vatican announcement of Pope Francis’ death April 21st.
Inspired by Jubilee mascot “Luce,” the coin briefly traded at $0.01856, with its trading volume exploding 413% to $42.7 million, according to CoinMarketCap. Market cap soared past $14.7 million as traders drew a symbolic connection to the Holy Year of 2025 and the unique blend of religion and crypto culture.
From Vatican Mascot to Viral Memecoin in Under Six hours
The original Luce mascot (Italian for ‘light’) by Simone Legno, co-founder of the Italian pop culture brand tokidoki. As per Vatican Archbishop Rino Fisichella, Luce is part of the Vatican’s effort to interact with ‘the pop culture loved by young people.
Inspired developers launched the LUCE memecoin on Solana’s Pump.Fun platform in 2024. LUCE saw initial viral hype, hitting a market cap near $53M within hours, before crashing 75% from its peak, making this rebound more dramatic.
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Price Crash followed by Mystery and Leveraged Bets
The reason behind the sudden fall is also shrouded in mystery. While on-chain data appears calm, with no signs of rug pulls or insider selling, observers pointed to large leveraged long positions on Bybit potentially playing a role in the prior volatility.
“The main volume went through Bybit Futures, where they allowed cross-margin trading for this token with up to 12.5x leverage,” noted one user. However, savvy traders aware of the liquidation price allegedly countered with shorts, driving the price down and liquidating the long.
Analysts Urge Caution amid Renewed Hype and Volatility
As LUCE rallies on emotional and cultural cues, industry analysts cautioned investors against mistaking short-term price action for long-term value.
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They warn against mistaking event-driven hype for sustainable value, noting LUCE lacks utility and could mirror past meme coin boom-and-bust cycles. High volatility remains very likely.
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