The cryptocurrency market was abuzz with rumors of an “official” Donald Trump token launch on Solana, causing a significant drop in Trump-related memecoins, including MAGA (TRUMP). The alleged token, named TrumpCoin (DJT), was supposedly announced by Pirate Wires, with Barron Trump leading the launch. However, doubts have been cast on the legitimacy of the token’s connection to the former president.
Bubblemaps pointed out concerning data, showing that a large portion of DJT’s supply is concentrated in one cluster, raising questions about its authenticity. Despite the skepticism, DJT’s market cap surged to over $255 million, while other Trump-related tokens like TREMP and BODEN experienced significant drops.
Investors are advised to exercise caution and verify information amidst such speculations. In related news, Trump recently expressed support for Bitcoin mining after meeting with industry leaders. Stay tuned for more updates on this developing story.
