A little-known Solana-based token called US Oil surged more than 150% in 24 hours as traders reacted to news linked to US moves involving Venezuelan oil assets.
The token, trading under the ticker USOR, briefly pushed its market capitalisation above $40 million amid heavy speculative interest.
USOR trended on CoinGecko as traders tied the rally to reports that Washington had begun selling seized Venezuelan oil assets.
Onchain analysts warned the price move showed signs of a speculative pump, including a near-vertical chart structure.
At its peak, USOR traded above $0.04 with daily volume approaching $20 million.
Trading activity was largely concentrated on Solana-based decentralised platforms, including Meteora.
The project claims to tokenise US oil reserves but provides no verified evidence of custody, legal backing or government involvement.
Several traders alleged the narrative was engineered to capitalise on geopolitical headlines rather than fundamentals.
“This looks like on-chain exposure to oil reserves from Venezuela,”
One widely shared post claimed, though no official confirmation exists.
Analysts flagged wallet concentration and thin liquidity as warning signs for late buyers.
Observers said the episode highlights how quickly geopolitical developments can spill over into meme-driven crypto speculation.
At the time of reporting, U.S Oil price was $0.07219.