DJT, a newly minted memecoin on the Solana network, recently experienced a surge in value by 180%, dragging the attention of the crypto community. Even though the legitimacy of the project is still in question, the price may have been affected by the hype and speculations linking it to former U.S. president, Donald Trump.
As Solana-based memecoins continue to receive increased attention lately, rumors began to circulate about Trump launching his token on the Solana blockchain. While this is yet to be confirmed, it will mark a historic move for a key political figure and presidential candidate to enter and launch projects in the crypto sector.
DJT Surge Raises Conjecture
After the 180% DJT token surge on Monday, June 17, which was triggered by the rumor of Trump ownership, Pirate Wire, a technology and politics news outlet, speculated that Donald Trump’s son Barron might be “spearheading” the project.
Per conversations, Trump is launching an official token — $DJT on Solana. Barron spearheading.
— Pirate Wires (@PirateWires) June 17, 2024
The post which has already been seen by more than 1.8 million people on X (formerly Twitter) has sparked discussions across the community. Meanwhile, the surge seems to have been mirrored by other coins linked to political figures. For example, the MAGA (TRUMP) token has grown by 18.60% to $8.70 in the last 24 hours. Also, Donald Tremp (TREMP), a memecoin blending Trump and Donald Duck has jumped by 11.39% to trade at $0.68. Joe Boden (BODEN), a Joe Biden-themed memecoin, has surged by 18.61% over the last day, changing hands at $0.13. Community Reaction
The observant crypto community has reacted to the rumor of DJT ownership by Trump. One user Conor on X, pointed out that it is very unlikely that Trump owns the token while sharing a transaction screenshot showing that the coin was sent from a KuCoin account, noting that the exchange does not operate in the United States. “Unless Trump’s team uses Kucoin (where you can’t buy crypto in the US), this ain’t Trump,” he stated.
Bubble Maps, a blockchain data platform, also doubted the claim, stressing that 67% of the DJT supply is in one cluster.
no way $DJT is actually from Donald Trump67% of the supply in one cluster please don't https://t.co/0pOqSIhwHq https://t.co/QGuU7vyeEj pic.twitter.com/qVCG7OAGL1
— Bubblemaps (@bubblemaps) June 17, 2024
The editor-in-chief at Pirate Wire, Mike Solana, clarified that he hadn’t directly contacted Donald Trump, he only reported what he heard through sources.
“getting a lot of inbound here. no, didn’t speak with Trump directly, assumed this was clear (text me though, mr. president). also assume he could rug pull, or pivot, and say it’s not true. just reporting what I know via sources,” he said.
The post DJT Surges by 180% as Speculations Links Ownership to Trump appeared first on Coinfomania.