Bet with Cryptocurrency on the Next Pope: Meme Coins Surge 770% in Vatican Gambling Frenzy

Crypto Traders Bet Millions on Papal Succession: Meme Coins Surge Amid Vatican Transition

A 770% Rally Fueled by Faith and Speculation

The death of Pope Francis on April 21, 2025, has triggered an unexpected frenzy in the cryptocurrency markets, where traders are wagering millions on who will become the next leader of the Catholic Church. Solana-based meme coins like POPE (themed after Cardinal Pietro Parolin) and LUCE (inspired by the Vatican’s Holy Year 2025 mascot) have skyrocketed by 770% and 134%, respectively, as crypto speculators turn a sacred transition into a high-stakes financial gamble.

On prediction markets like Polymarket, over $6.4 million has been bet on the papal succession, with Italy’s Cardinal Parolin leading at 34% odds, followed by the Philippines’ Cardinal Tagle at 23%. Meanwhile, meme coins tied to these figures have become volatile proxies for the bets, despite having no official Vatican endorsement.

How a Meme Coin Became a "Digital Candlelight Vigil"

LUCE, which means "light" in Italian, surged 134% within 48 hours of Pope Francis’ passing, peaking at $0.02517 before settling around $0.015. The token, launched in late 2024 as a nod to the Vatican’s Jubilee mascot, saw trading volumes explode from $5 million to $60 million in a single day.

Social media played a pivotal role. Hashtags like #PopeCoin and #LightLivesOn trended globally, with influencers framing LUCE as a "digital tribute" to the late pontiff. Algorithmic trading bots amplified the rally, creating a feedback loop of buying pressure.

However, the euphoria was short-lived. By April 25, LUCE had plunged 40% from its peak, a stark reminder of meme coins’ extreme volatility. Data from GMGN.Ai flagged LUCE with a 100% rug pull risk, citing its lack of governance or utility.

The Rise and Fall of "POPE" and Other Vatican-Themed Tokens

While LUCE dominated headlines, another Solana-based token, POPE (linked to Cardinal Parolin), surged 770% in 24 hours, reaching a market cap of $260,930. A rival token honoring Cardinal Tagle jumped 1,012%, though both remain thinly traded on Raydium, a decentralized exchange.

These tokens are purely speculative—CoinMarketCap has issued warnings that they are unverified and high-risk. Yet, their volatility mirrors the feverish activity on prediction markets, where bettors use stablecoins (not Bitcoin) to wager on the conclave’s outcome.

Experts Warn: "This Is Gambling, Not Investing"

The convergence of crypto and papal politics has drawn sharp criticism. Polymarket faced backlash after a fake Vatican notice (claiming the Church would excommunicate bettors) went viral, briefly spiking trading volumes. While debunked, the incident highlighted how easily misinformation can manipulate these markets.

Benzinga cautioned that meme coins like POPE and LUCE "lack intrinsic value" and are driven purely by social media hype. Theodore Quinn, a crypto analyst at AInvest, noted:

"The LUCE surge is a textbook example of sentiment-driven speculation. Unlike Bitcoin or Ethereum, these tokens have no underlying utility—they’re digital lottery tickets tied to a news cycle."

Even Pope Francis, in his final years, warned against the dangers of unchecked speculation, calling AI and financial gambling "the highest-stakes risks to humanity’s future." The irony isn’t lost on observers.

What’s Next for Crypto and the Conclave?

As cardinals prepare to elect a new pope, crypto markets remain volatile. Key trends to watch:

1. Regulatory Scrutiny – The SEC and global watchdogs may crack down on unregistered securities, especially meme coins tied to real-world events.

2. Institutional Interest – If Trump’s pro-crypto SEC appointee Paul Atkins relaxes rules, more traders could enter these speculative markets.

3. Long-Term Viability – Over 90% of meme coins launched in 2024 lost half their value within six months. LUCE, down 95% from its November 2024 peak, may follow the same path.

Conclusion: A Cautionary Tale for Crypto’s Wild West

The papal succession betting frenzy underscores crypto’s growing influence—and its risks. While LUCE and POPE tokens captured headlines, their collapses reveal the perils of investing in hype over fundamentals.

As the Vatican enters a new era, one question lingers: Will the next pope address the Church’s stance on crypto speculation?

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Disclaimer: The information provided in this section is for reference only and does not represent any investment advice or the official views of FameEX.