Iran Considers Closing the Strait of Hormuz, Digital Oil Memecoins Soar!

Jakarta, Pintu News – According to a report by Saeed Azimi, Tehran correspondent for France 24, Iranian politicians on Sunday expressed the possibility of closing the Strait of Hormuz in response to a US military strike on Iran’s nuclear facilities.

The Strait of Hormuz, which is a crucial global oil shipping route, accounts for one-fifth of the world’s oil trade. The closure is expected to cause a spike in oil prices globally, which could reach triple digits and raise fears of stagflation in oil-importing trade deficit countries like the US.

Potential Impact of Closing the Strait of Hormuz

Iran’s closure of the Strait of Hormuz could have a significant impact on global oil supply. Analysts expect that Brent and West Texas Intermediate (WTI) crude oil prices will open the market with significant price gains on Monday, anticipating a possible supply shortage.

These price increases will not only affect energy markets but also the global economy as a whole, with the potential to trigger inflation in many countries already struggling with economic pressures. The closure of this vital lifeline could also exacerbate geopolitical tensions in the region.

The Strait of Hormuz has long been recognized as a geopolitical hotspot, and actions such as a closure by Iran would require a coordinated international response. Countries that depend on importing oil through the strait may have to find alternatives, which could be more expensive and less efficient.

Read More: Crypto Market Crisis: The Impact of US Attack on Iran on Bitcoin and Ethereum!

Digital Oil Memecoin Surge

Amidst this uncertainty, a relatively unknown token, digital oilecoin (OIL), has surged more than 400% against the US dollar. The token, which is listed on Raydium’s Solana-based decentralized exchange (SOL), has caught the attention of investors and speculators in the crypto market.

This dramatic rise was driven by the uncertainty of the oil market and speculation that the token could be an effective hedge against oil price volatility. Memecoin first emerged earlier this year after Peter Schiff, a vocal cryptocurrency and Bitcoin (BTC) critic, supported the idea of creating digital oil.

Endorsements from figures like Schiff, known for his skeptical views on Bitcoin (BTC), lend additional credibility to these memecoins in the eyes of investors looking for alternatives to traditional investments amid global uncertainty.

Further Implications for Global Markets

Rising oil prices and a surge in the value of digital oil memecoins show how quickly markets react to geopolitical tensions. Investors and analysts should continue to monitor the situation as it could have a long-term impact on investment strategies and global economic policies.

A volatile oil market can affect everything from transportation costs to consumer goods prices, which in turn can affect global inflation and monetary policy by central banks. Additionally, this incident highlights the importance of diversification in investment portfolios. Investors may need to consider assets that are less affected by traditional market fluctuations, such as cryptocurrencies or other commodities, as part of their risk mitigation strategy.

Cover: The Future of Geopolitical and Market Uncertainty

With tensions rising in the Strait of Hormuz and the market’s reaction to a potential closure, the world may have to prepare for a prolonged period of uncertainty. How Iran and the international community respond to this situation will largely determine future global market dynamics. Investors and policymakers should remain vigilant and responsive to rapid changes in the geopolitical and economic landscape.

Also Read: Sharp ADA Decline Amid Geopolitical Tensions, What’s the Impact? (23/6/25)

That’s the latest information about crypto. Follow us on Google News for the latest crypto and blockchain technology updates. Enjoy an easy and secure crypto trading experience by downloading Pintu crypto app via Google Play Store or App Store now.

Experience web trading with advanced trading tools such as pro charting, various order types, and portfolio tracker only at Pintu Pro. Pintu Pro Futures is also available, where you can buy bitcoin leverage, trade btc futures, eth futures and sol futures easily from your desktop!

*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Coindesk. Iran’s Parliament Has Reportedly Approved Closure of Strait of Hormuz, Digital Oil Memecoin Soars 400%. Accessed on June 23, 2025
• Featured Image: Dex Screener