Trump-related memecoins, including MAGA, have seen a drop of over 30% following rumors of an "official" TrumpCoin launch on Solana. The speculation, sparked by Pirate Wires, suggested that Trump's son, Barron, was leading the token's development. However, Trump's team has not confirmed these claims and blockchain data firms are skeptical of the link between DJT and Trump. Despite doubts, TRUMP fell 31% to $7.46, wiping out more than $150 million from its market cap. Other Trump memecoins also suffered, while the DJT token surged to a $120 million market cap.