๐ฅHot off the press! Trump-related memecoins, including the MAGA (TRUMP), took a nosedive of over 30% amid whispers of an "official" token launch on Solana by Trump's team. ๐
In a plot twist, the supposed TrumpCoin (DJT) is rumored to be led by Trump's teen son, Barron. However, the Trump team remains tight-lipped, leaving us all in suspense. ๐คซ
Blockchain data firms like Bubblemaps are raising eyebrows at DJT's connection to Trump, with 67% of the supply in one cluster and 43% on Solana-based automated market maker Raydium. ๐ค
The fallout? TRUMP plummeted 31% to $7.46 in just four hours, wiping out over $150 million from the MAGA-themed TRUMP market cap. Smaller Trump-related memecoins were hit even harder.
Meanwhile, the Biden-linked token, BODEN, also took a 22% hit. But in a surprising turn of events, the relatively unknown DJT surged to a $120 million market cap on June 18. ๐
As we await confirmation from Trump, industry leaders are expressing frustration at the potential culprits behind the token launch.
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