What does Jeremiah 22:24 mean?

As surely as I live, declares the Lord, even if you, Coniah son of Jehoiakim, king of Judah, were a signet ring on my right hand, I'd pull you off. Jeremiah 22:24 - Modern Text Bible

(God says that even if Coniah (Jehoiachin) were as precious as a royal seal, he'd still be rejected and removed.)