{"id":625280,"date":"2024-06-19T02:00:28","date_gmt":"2024-06-19T02:00:28","guid":{"rendered":"https:\/\/shenyangcang.com\/?p=625280"},"modified":"2024-06-18T17:43:15","modified_gmt":"2024-06-18T17:43:15","slug":"trump-inspired-memecoins-crash-30-after-rumors-of-trumps-official-token-launch","status":"publish","type":"post","link":"https:\/\/shenyangcang.com\/meme-coins\/trump-inspired-memecoins-crash-30-after-rumors-of-trumps-official-token-launch\/","title":{"rendered":"Trump-Inspired Memecoins Crash 30% After Rumors Of Trump\u2019s Official Token Launch"},"content":{"rendered":"<p style=\"font-weight: 400\">The crypto industry has been a crucial topic in the electoral campaign for the November US presidential elections. This year, presidential candidates have embraced cryptocurrencies to obtain the industry\u2019s support. As a result, the community has capitalized on the momentum with Memecoins.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/shenyangcang.com\/news\/flocka-fiasco-waka-flocka-flames-crypto-launch-crashes-into-insider-trading-scandal\/\" target=\"_blank\" rel=\"noopener \">Flocka Fiasco: Waka Flocka Flame\u2019s Crypto Launch Crashes Into Insider Trading Scandal<\/a><\/div>\n<p style=\"font-weight: 400\">PolitiFi tokens, a new memecoin category inspired by political figures, have performed remarkably this Q2. Trump-inspired tokens have been the talk of the town after the Republican candidate started endorsing cryptocurrencies. However, these memecoins have suffered a massive 30% drop in the last 24 hours.<\/p>\n<h2 style=\"font-weight: 400\">An Official DJT Token?<\/h2>\n<p style=\"font-weight: 400\">On Monday, Pirate Wires\u2019 X account announced the launch of an alleged official \u2018Trump Coin.\u2019 According to the report, the token is supposedly led by Trump\u2019s 18-year-old son, Barron Trump. \u201cPer conversations, Trump is Launching an official token &#8211; $DJT on Solana, Barron spearheading,\u201d read the post.<\/p>\n<p style=\"font-weight: 400\">Mike Solana, CMO at Founders Fund and editor-in-chief at Pirates Wires, <a href=\"https:\/\/x.com\/micsolana\/status\/82586989?s=61&amp;t=mtZSN0o6iCY-w9O1_1dRoQ\" target=\"_blank\" rel=\"noopener nofollow\">shared<\/a> a smart contract address seemingly linked to the token. Additionally, he stated he was \u201cjust reporting\u201d on what he knew \u201cvia sources\u201d and that he \u201cdidn\u2019t speak with Trump directly.\u201d<\/p>\n<p style=\"font-weight: 400\">Similarly, Martin Shkreli claimed the DJT token is real on an X Space. He later maintained his position, highlighting the \u201cconfirmation\u201d from a friend of Barron Trump. In a post, the 17-year-old stated, \u201c$DJT IS THE ONLY REAL TRUMP TOKEN.\u201d<\/p>\n<figure id=\"attachment_625286\" aria-describedby=\"caption-attachment-625286\" style=\"width: 860px\" class=\"wp-caption alignnone\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-625286\" src=\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/06\/IMG_3497.jpg?w=860&#038;resize=860%2C518\" alt=\"Memecoins\" width=\"860\" height=\"518\" srcset=\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/06\/IMG_3497.jpg?w=1311 1311w, https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/06\/IMG_3497.jpg?w=460 460w, https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/06\/IMG_3497.jpg?w=768 768w, https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/06\/IMG_3497.jpg?w=860 860w, https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/06\/IMG_3497.jpg?w=750 750w, https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/06\/IMG_3497.jpg?w=1140 1140w\" sizes=\"(max-width: 860px) 100vw, 860px\"><figcaption id=\"caption-attachment-625286\" class=\"wp-caption-text\">Barron Trump\u2019s best friend \u201cconfirms\u201d DJT\u2019s authenticity. Source: <a href=\"https:\/\/x.com\/martinshkreli\/status\/88658583?s=61&amp;t=mtZSN0o6iCY-w9O1_1dRoQ\" target=\"_blank\" rel=\"noopener nofollow\">Martin Shkreli on X<\/a><\/figcaption><\/figure>\n<p style=\"font-weight: 400\">However, the crypto community remains <a href=\"https:\/\/x.com\/shaughnessy119\/status\/82012108?s=61&amp;t=mtZSN0o6iCY-w9O1_1dRoQ\" target=\"_blank\" rel=\"noopener nofollow\">skeptical<\/a> about the authenticity of the memecoin. Several users highlighted various red flags surrounding the \u201cofficial\u201d token, including the DJT\u2019s X Account.<\/p>\n<p style=\"font-weight: 400\">A user pointed out that the official X account has a \u201cstrange\u201d following list. This list includes the controversial figure Andrew Tate, American streamer Adin Ross, and Shkreli.<\/p>\n<p style=\"font-weight: 400\">Moreover, crypto analytics firm Bubblemaps <a href=\"https:\/\/x.com\/bubblemaps\/status\/81777812?s=61&amp;t=mtZSN0o6iCY-w9O1_1dRoQ\" target=\"_blank\" rel=\"noopener nofollow\">revealed<\/a> that 67% of the token\u2019s supply was in one cluster. Raydium Concentrated Liquidity is the largest holding, accounting for 43% of the supply.<\/p>\n<p style=\"font-weight: 400\">Many community members expressed their concerns with humor. Some users suggested that serial scammer Sahil Arora, responsible for several <a href=\"https:\/\/shenyangcang.com\/meme-coins\/lil-pump-and-dump-sec-issues-warning-as-more-musicians-dump-their-memecoins\/\" target=\"_blank\" rel=\"noopener \">celebrity memecoins<\/a> rugs, orchestrated the token launch. Others wondered if the inconsistencies of the launch made it \u201cmore or less likely\u201d that it was a business venture from the Trump family.<\/p>\n<figure id=\"attachment_625287\" aria-describedby=\"caption-attachment-625287\" style=\"width: 860px\" class=\"wp-caption alignnone\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-625287\" src=\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/06\/IMG_3494.jpg?w=860&#038;resize=860%2C823\" alt=\"Memecoins\" width=\"860\" height=\"823\" srcset=\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/06\/IMG_3494.jpg?w=1333 1333w, https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/06\/IMG_3494.jpg?w=460 460w, https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/06\/IMG_3494.jpg?w=768 768w, https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/06\/IMG_3494.jpg?w=860 860w, https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/06\/IMG_3494.jpg?w=750 750w, https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/06\/IMG_3494.jpg?w=1140 1140w\" sizes=\"(max-width: 860px) 100vw, 860px\"><figcaption id=\"caption-attachment-625287\" class=\"wp-caption-text\">The crypto community shares memes about the token launch. Source: <a href=\"https:\/\/x.com\/0xquit\/status\/66458716?s=61&amp;t=mtZSN0o6iCY-w9O1_1dRoQ\" target=\"_blank\" rel=\"noopener nofollow\">Quit on X<\/a><\/figcaption><\/figure>\n<p style=\"font-weight: 400\">At the time of writing, no official sources have confirmed Trump\u2019s involvement with the DJT token.<\/p>\n<h2 style=\"font-weight: 400\">Trump Memecoins Plummet<\/h2>\n<p style=\"font-weight: 400\">Over a month ago, the former US president <a href=\"https:\/\/shenyangcang.com\/news\/crypto-presidential-rally-trump-soars-36-2-and-flips-boden\/\" target=\"_blank\" rel=\"noopener \">declared<\/a> he was \u201cfine\u201d with cryptocurrencies and wanted to make it a \u201csolid\u201d industry with clear regulations. At the time, Trump-inspired memecoins soared over 63% following his declarations. Additionally, the PolitiFi sector surged, with tokens like BODEN increasing by nearly 30%.<\/p>\n<p style=\"font-weight: 400\">Nonetheless, the story is different this time as the rumors of an official Trump token negatively impacted the performance of the memecoins. The PolitFi tokens report a 30% decline in the last 24 hours, with a market capitalization of $1.03 billion.<\/p>\n<p style=\"font-weight: 400\">Trump-related tokens took the biggest hit in the sector. Many dropped between 20% and 30% on the last day. MAGA (TRUMP), the largest token related to the former US president, saw its price decline by nearly 50% in four hours.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/shenyangcang.com\/news\/zksync-zk-drops-20-amid-binance-listing-and-new-token-distribution-program\/\" target=\"_blank\" rel=\"noopener \">ZkSync (ZK) Drops 20% Amid Binance Listing And New Token Distribution Program<\/a><\/div>\n<p style=\"font-weight: 400\">Following the \u201cTrump coin\u201d rumors, TRUMP <a href=\"https:\/\/shenyangcang.com\/news\/political-memecoin-mania-super-trump-token-explodes-with-200-surge\/\" target=\"_blank\" rel=\"noopener \">dropped<\/a> from the $10.8 to the $5.6 price range before recovering below the $7 mark. As of this writing, the token is trading at $6.94, a 38.7% retrace in the past 24 hours.<\/p>\n<p style=\"font-weight: 400\">Similarly, Trump Mania (TMANIA), Super Trump (STRUMP), and Doland Tremp (TREMP) have suffered a 35.2%, 20%, 37.6% price decline.<\/p>\n<figure id=\"attachment_625288\" aria-describedby=\"caption-attachment-625288\" style=\"width: 810px\" class=\"wp-caption alignnone\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-625288\" src=\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/06\/TRUMPUSDT_2024-06-18_11-20-56.png?w=810&#038;resize=810%2C447\" alt=\"Memecoins, TRUMP, TRUMPUSDT\" width=\"810\" height=\"447\" srcset=\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/06\/TRUMPUSDT_2024-06-18_11-20-56.png?w=810 810w, https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/06\/TRUMPUSDT_2024-06-18_11-20-56.png?w=460 460w, https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/06\/TRUMPUSDT_2024-06-18_11-20-56.png?w=768 768w, https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/06\/TRUMPUSDT_2024-06-18_11-20-56.png?w=750 750w\" sizes=\"(max-width: 810px) 100vw, 810px\"><figcaption id=\"caption-attachment-625288\" class=\"wp-caption-text\">TRUMP\u2019s performance in the three-day chart. Source: TRUMPUSDT on <a href=\"https:\/\/www.tradingview.com\/x\/67QjBtGU\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView<\/a><\/figcaption><\/figure>\n<div class=\"disclaimer-shortcode\">Featured Image from Unsplash.com, Chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The crypto industry has been a crucial topic in the electoral campaign for the November US presidential elections. This year, presidential candidates have embraced cryptocurrencies to obtain the industry\u2019s support. As a result, the community has capitalized on the momentum with Memecoins. Related Reading: Flocka Fiasco: Waka Flocka Flame\u2019s Crypto Launch Crashes Into Insider Trading Scandal PolitiFi tokens, a new memecoin category inspired by political figures, have performed remarkably this Q2. Trump-inspired tokens have been the talk of the town after the Republican candidate started endorsing cryptocurrencies. However, these memecoins have suffered a massive 30% drop in the last 24 hours. An Official DJT Token? On Monday, Pirate Wires\u2019 X account announced the launch of an alleged official \u2018Trump Coin.\u2019 According to the report, the token is supposedly led by Trump\u2019s 18-year-old son, Barron Trump. \u201cPer conversations, Trump is Launching an official token &#8211; $DJT on Solana, Barron spearheading,\u201d read the post. Mike Solana, CMO at Founders Fund and editor-in-chief at Pirates Wires, shared a smart contract address seemingly linked to the token. Additionally, he stated he was \u201cjust reporting\u201d on what he knew \u201cvia sources\u201d and that he \u201cdidn\u2019t speak with Trump directly.\u201d Similarly, Martin Shkreli claimed the DJT token is real on an X Space. He later maintained his position, highlighting the \u201cconfirmation\u201d from a friend of Barron Trump. In a post, the 17-year-old stated, \u201c$DJT IS THE ONLY REAL TRUMP TOKEN.\u201d However, the crypto community remains skeptical about the authenticity of the memecoin. Several users highlighted various red flags surrounding the \u201cofficial\u201d token, including the DJT\u2019s X Account. A user pointed out that the official X account has a \u201cstrange\u201d following list. This list includes the controversial figure Andrew Tate, American streamer Adin Ross, and Shkreli. Moreover, crypto analytics firm Bubblemaps revealed that 67% of the token\u2019s supply was in one cluster. Raydium Concentrated Liquidity is the largest holding, accounting for 43% of the supply. Many community members expressed their concerns with humor. Some users suggested that serial scammer Sahil Arora, responsible for several celebrity memecoins rugs, orchestrated the token launch. Others wondered if the inconsistencies of the launch made it \u201cmore or less likely\u201d that it was a business venture from the Trump family. At the time of writing, no official sources have confirmed Trump\u2019s involvement with the DJT token. Trump Memecoins Plummet Over a month ago, the former US president declared he was \u201cfine\u201d with cryptocurrencies and wanted to make it a \u201csolid\u201d industry with clear regulations. At the time, Trump-inspired memecoins soared over 63% following his declarations. Additionally, the PolitiFi sector surged, with tokens like BODEN increasing by nearly 30%. Nonetheless, the story is different this time as the rumors of an official Trump token negatively impacted the performance of the memecoins. The PolitFi tokens report a 30% decline in the last 24 hours, with a market capitalization of $1.03 billion. Trump-related tokens took the biggest hit in the sector. Many dropped between 20% and 30% on the last day. MAGA (TRUMP), the largest token related to the former US president, saw its price decline by nearly 50% in four hours. Related Reading: ZkSync (ZK) Drops 20% Amid Binance Listing And New Token Distribution Program Following the \u201cTrump coin\u201d rumors, TRUMP dropped from the $10.8 to the $5.6 price range before recovering below the $7 mark. As of this writing, the token is trading at $6.94, a 38.7% retrace in the past 24 hours. Similarly, Trump Mania (TMANIA), Super Trump (STRUMP), and Doland Tremp (TREMP) have suffered a 35.2%, 20%, 37.6% price decline. Featured Image from Unsplash.com, Chart from TradingView.com<\/p>\n","protected":false},"author":614,"featured_media":607250,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[91895],"tags":[92466,92514,14186,8480,88164,92615,9848,92262,4313],"class_list":["post-625280","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-meme-coins","tag-celebrity-memecoins","tag-celebrity-tokens","tag-crypto-scam","tag-donald-trump","tag-memecoins","tag-politifi-tokens","tag-trump","tag-trumpusdt","tag-us-elections"],"acf":[],"yoast_head":"\n<title>Trump-Inspired Memecoins Crash 30% After &#039;Trump Coin&#039; Rumors<\/title>\n<meta name=\"description\" content=\"Rumors of an official DJT token have sent the Trump-inspired Memecoins on a free fall, resulting in a 30% price drop in the PolitiFi sector.\" 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Garcia\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/shenyangcang.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/1a5c5c83a8ac34388cefe7d0e708bab3?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/1a5c5c83a8ac34388cefe7d0e708bab3?s=96&d=mm&r=g\",\"caption\":\"Rubmar Garcia\"},\"description\":\"Rubmar is a writer and translator who has been a crypto enthusiast for the past four years. Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. 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Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. 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