Iran Votes to Close Strait of Hormuz OIL Meme Coin Soars 400% on Geopolitical Shock

Iran Votes to Close Strait of Hormuz — OIL Meme Coin Soars 400% on Geopolitical Shock

1. Iran's Parliament Approves Closure Proposal, Final Say Rests with Security Council

In response to the U.S. airstrikes on its nuclear facilities, Iran’s parliament unanimously approved a proposal to block the Strait of Hormuz — a critical global energy corridor. While the vote is advisory in nature, the message is strategic. The final decision will be made by Iran’s Supreme National Security Council (SNSC), which could signal a turning point in regional dynamics.

2. The Strait of Hormuz: The World's Energy Bottleneck

Roughly 20% of the world’s oil supply passes through the Strait of Hormuz, making it one of the most geopolitically sensitive maritime chokepoints. Any disruption could send Brent and WTI crude prices soaring into triple digits. Such a scenario could trigger stagflation, especially in trade-deficit nations reliant on energy imports.

3. Oil Price Fears Fuel 400% Surge in Digital OIL Meme Coin

Amid these rising tensions, crypto markets reacted in an unexpected way.

According to CoinDesk, the Digital OIL meme coin — built on the Solana blockchain and traded on decentralized exchange Raydium — soared over 400% in value.

This token was created earlier this year following social media posts by crypto-skeptic Peter Schiff, who unexpectedly endorsed the idea of “digital oil.” Despite being a meme coin, OIL is now riding a wave of narrative-driven trading.

4. Geopolitical Events Drive New Meme Themes

One user, believed to be behind the coin’s official X (Twitter) account, stated: “It’s unbelievable that a meme coin like OIL — tailor-made for geopolitical risk — is still being underestimated by the market.”

This reflects a broader trend: meme coins are no longer just jokes — they are becoming narrative assets tied to real-world political and economic anxieties.

5.  Volatility in Both Oil and OIL Token

If Iran follows through with the closure of the Strait of Hormuz, the global oil supply chain could be severely disrupted. In parallel, meme coins like OIL — which respond to commodity-based narratives — may experience significant volatility and gain further attention as speculative geopolitical plays.