The unknown Solana token calling itself "US Oil (USOR)" rose more than 150% within 24 hours on Monday, temporarily pushing its market value above $40 million, while traders captured new addresses in the United States selling Venezuelan oil blocks.
The token was trending on CoinGecko, even with warnings from analysts and on-chain traders that the rise showed classic signs of increased speculation.
Geopolitics turns into a tradable meme
This surge coincided with increasing geopolitical interest in oil. According to reports, Washington began selling confiscated Venezuelan oil assets today.
This macro background appears to have spilled into the crypto markets, where traders quickly linked a political narrative to USOR, despite no confirmed connection to any government oil reserves.
At the height of the surge, USOR traded above $0.04, with a daily trading volume approaching $20 million.
The movement occurred in a quasi-vertical price pattern, a structure that many traders referred to as abnormal.
USOR markets are focused on the Solana ecosystem, mainly through decentralized venues like Meteora. Listing platforms displayed warnings of "suspicious schemes" as trading volume sharply increased with the price.
The project's website claims that USOR represents the "on-chain reserve index" symbolizing US oil reserves, describing itself as oil-backed, US-compliant, and subject to public transparency.
However, the site does not provide any proven evidence of booking or the legal structure or affiliation with any official infrastructure of US oil reserves.
Additionally, there is speculation that this token may be an insider move, as it was launched on the same platform as the Trump meme coin – Meteora.
Viral charts, weak evidence, and rising red flags
Meanwhile, Twitter was filled with cryptocurrencies with sharply divided reactions.
Many cryptocurrency traders claimed that the narrative was designed to exploit real-world news, pointing to coordinated promotions, pooled wallets, and a lack of organic accumulation.
Others warned that the branding of the token largely reflects geopolitical developments for covert execution.
A widely circulated post described USOR as "exposure to Venezuelan oil reserves" broadly, a claim not confirmed by US authorities or energy agencies.
Many analysts responded that the timing, branding, and chart structure resemble previous politically-themed meme coins that were making headlines before collapsing.
On-chain data shared by independent trackers showed a concentration in supply among a small group of wallets.
Images of the bubble map circulating on X indicated that many major holders are interconnected, raising concerns about centralization control and liquidity risks for late buyers.
Overall, USOR is another example of how quickly macroeconomic and political news seeps into speculation in cryptocurrencies.
While the US undergoes a complex reset of its oil strategy in Venezuela, parts of the crypto market seem eager to fund the narrative — often without evidence.
It remains unclear whether USOR is just a short-lived meme or something more durable. What is clear is that traders are racing again to trade the story, even as warnings escalate that the story itself may not hold up.
