1 month ago
Is the coin real?
That was the question plaguing crypto traders from U.S. to Asia alike arsenic an “official” memecoin linked to Republican Donald Trump was issued successful aboriginal Asian hours Saturday from his verified X and Truth Social accounts.
Prices ran from fewer cents to $14 successful little than six hours amid wide disorder connected whether the token was really backed by Trump oregon was a imaginable hack of Trump’s relationship with a fake token issued by the attacker to fleece unsuspecting buyers.
CoinDesk could not independently corroborate if the token was legit oregon not arsenic of aboriginal European hours Saturday.
The token — which is viewed with scepticism among immoderate traders — has attracted $3 cardinal successful trading volumes hours aft going unrecorded and commands a $2 cardinal marketplace capitalization astatine existent prices. It has netted aboriginal buyers implicit $70 cardinal successful insubstantial gains, and smaller traders arsenic overmuch arsenic $1 million, onchain information shows.
The evident determination comes days earlier Trump takes bureau connected Jan.20, and is the archetypal clip a sitting president volition springiness their liking to a memecoin. It’s the latest successful a agelong database of crypto-related businesses and products linked to Trump — with the Republican having antecedently issued aggregate NFTs and the comparatively caller decentralized concern level World Liberty Financial.
“My NEW Official Trump Meme is HERE! It’s clip to observe everything we basal for: WINNING!,” an X station from the @realDonaldTrump relationship reads. “Join my precise peculiar Trump Community. GET YOUR $TRUMP NOW. Go to http://gettrumpmemes.com — Have Fun!”
The X station went up connected 2:44 UTC Saturday and has stayed up until aft 8:15 UTC. It was initially perceived to be
The token was archetypal posted connected Trump’s Truth Social, wherever it ran from a afloat diluted valuation of $200 cardinal to implicit $1.3 cardinal successful conscionable implicit an hour. It gained traction and involvement from crypto traders aft the X post.
A disclaimer connected the meme’s website stated that the Trump meme token were intended to relation arsenic an “expression of enactment for, and engagement with, the ideals and beliefs embodied by the awesome $TRUMP” and are not “intended to be, oregon to beryllium the taxable of, an concern opportunity, concern contract, oregon information of immoderate type.”
The reasoning is successful enactment with however memecoin markets person shaped up since precocious 2024, moving distant from specified tokens related to pictures (such arsenic dogecoin) to cult tokens wherever holders judge successful a shared imaginativeness oregon thought that the marque implies (such arsenic SPX6900 flipping the U.S. banal market, oregon MOG representing “tokenized winning.”)
Meanwhile, immoderate previously-issued memecoins themed aft Trump took a deed aboriginal Saturday, dropping as overmuch arsenic 50% arsenic their worth proposition fell.
English (US) 