Shock: Donald Trump Family Memecoin Crashes, Drops Over 90%
A Solana memecoin called Restore the Republic (RTR) has dropped by as much as 95% after it was reported to be unrelated to the Trump family.
The price of RTR surged to $0.1490 after Students for Trump president Ryan Fournier posted that it was Trump's new official token.
However, Eric Trump denied this, causing the price of RTR to plummet. RTR reached a high of $0.1490 before falling to $0.009 according to Dex Screener. The crypto community had previously been skeptical that Trump's son would launch a memecoin after a mysterious DeFi-related post on X.
Trump Jr. has revealed that he is launching a new decentralized finance platform to address inequality in access to banking services.
He shared little information about the DeFi platform, saying only that it would “confront many sectors of the banking world” and that it could take a long time before it goes live.
Trump-related memecoins’ past volatility
Many Trump-themed memecoins have seen wild swings in the past.
On “Crypto Monday” on August 5, TrumpCoin (DJT) dropped 95%, from $0.00555 to $0.000229.
Meanwhile, on July 13, the largest Donald Trump memecoin, MAGA (TRUMP), surged more than 30% following a failed assassination attempt on the former president at a rally in Butler, Pennsylvania. MAGA price jumped from $6.31 to $10.36, causing its market cap to increase from $293 million to $469 million in less than 45 minutes.
