Crypto Community Creates LUMMIS Meme Coin After Senator’s Historic Appointment

Shortly after Senator Cynthia Lummis announced her appointment as chair of the new Senate Banking Subcommittee on Digital Assets, the crypto community did what it does best—created a meme coin in her name. The token, simply called LUMMIS Coin, launched on the Solana blockchain and exploded with over $35 million in trading volume within its first few hours.

According to data from DEXScreener, LUMMIS Coin hit a market cap of $1.1 million with a price of $0.001165. Over 86,000 transactions were recorded, with buy and sell volumes almost evenly matched at $17.6 million and $17.5 million, respectively. However, like most meme coins, it followed a predictable pattern: a rapid price spike followed by a steady decline, as early traders rushed to cash out.

Senator Lummis, a vocal advocate for digital assets, had just announced her new role leading efforts to craft bipartisan crypto legislation and oversee regulators. Her statements about the future of digital innovation and proposals for a strategic bitcoin reserve likely inspired the token’s creation. Though the coin is clearly not endorsed by Lummis, its timing capitalizes on the hype surrounding her pro-crypto stance.

LUMMIS Coin serves as another example of the crypto world’s tendency to turn major announcements into speculative opportunities. While it reflects the cultural overlap between politics and crypto, its long-term value is questionable, like most meme coins born out of fleeting hype.