🔥🔥🔥Why did Memecoin skyrocket after rumors of Trump backing it?

DJT, a token on the Solana blockchain, has surged as much as 180% thanks to an unconfirmed report that former US president Donald J. Trump is behind it.

Pirate Wires, an independent media outlet, posted on X that: “Trump will launch official token – DJT on Solana.”

Pirate Wires said Trump's son, Barron, is "leading" the project.

The token has a market capitalization of $177 million at the time of writing. 

This tweet is being questioned as to its legitimacy by the cryptocurrency community, with many suggesting that the Pirate Wires account may have been hacked.

Shortly after the tweet, Pirate Wires founder Michael Solana's account posted a contract address for the DJT token, further fueling speculation that the founder's account had been compromised.

Up to now, there has been no official statement from the Trump family about this meme coin or information about Pirate Wires account hacking.

#memecoin🚀🚀🚀 #TRUMP