-The DJT token, linked to Donald Trump and his son Barron, plummeted 1% in 2002/2024 due to a massive £8.6 million sale of one wallet 90.
the wallet, which controls 20% of the supply, made a large transaction that caused the #token to crash. Funds were redistributed among 4 different wallets.
Marthin Shkreli, who claimed to have created and promoted the token with Barron Trump, distanced himself from the project after the price drop, accusing Barron of denying the existence of the token or access to the #private key.
The DJT token, thematically linked to Donald Trump and his son Barron, fell 8.6% to 90% in 2024. The sharp drop in market capitalization, which fell from ¥5,500 million to ¥3,300 million in a matter of minutes, was caused by a massive ¥1 million sale by 200 wallets.
the collapse was caused by wallet
"20UGM4, which owned about 6% of DJT's entire offering. During a single transaction, it liquidated a huge amount of tokens, causing a #chain reaction that led to a rapid token crash. The proceeds from the sale were then distributed to 4 different wallets.
According to Coingecko, TrumpCoin (DJT) was trading at 0.0058. In just 8 hours after trading began on 6/2, the token fell in price almost instantly and lost 90% of its value. Martin Shkreli, known for his previous role
"Pharma Bro, initially claimed that he and Barron Trump created and promoted the token. However, after the price plummeted, Shkreli backed away from the project, blaming Baron Trump for the collapse. In comments on social media, Shkreli denied that he owned DJT tokens or had access to private keys that controlled the liquidity and said he had no idea about the current situation.
Further investigation revealed that DJT's Telegram channel shared an admin with another token backed by Shkreli, prompting speculation about his involvement in the project.
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