🤑Trump enters crypto, but “GOLD” is just accused of a rug pull
A token called Trump Digital Gold ($GOLD) on Solana has just carried out a textbook pump → dump.
Market cap: nearly $60M → plunging by more than 99%.
Notably, on-chain data shows that the developer and 15 related wallets control about 82.45% of the total supply. These 15 wallets have sold $GOLD worth around $330K, turning an initial $18,657 into nearly $330K.
Then the promotional post for $GOLD from the account @realtrumpcoins1 was deleted.
The issue is: there’s no confirmed evidence that this is actually an official project by Trump. Some reports suggest the related account may have been hacked.
But for investors, the final outcome is still all too familiar:
Trump’s name → FOMO → tens of millions in market cap → insiders dump → the last buyers end up holding the bag.
That’s exactly why I’m increasingly skeptical of projects that rely only on a brand name and hype.
Crypto needs value.
Not an added famous name to provide liquidity for someone else to exit their positions. 🥶
#Trump #Crypto #Solana #GOLD #RugPull
A token called Trump Digital Gold ($GOLD) on Solana has just carried out a textbook pump → dump.
Market cap: nearly $60M → plunging by more than 99%.
Notably, on-chain data shows that the developer and 15 related wallets control about 82.45% of the total supply. These 15 wallets have sold $GOLD worth around $330K, turning an initial $18,657 into nearly $330K.
Then the promotional post for $GOLD from the account @realtrumpcoins1 was deleted.
The issue is: there’s no confirmed evidence that this is actually an official project by Trump. Some reports suggest the related account may have been hacked.
But for investors, the final outcome is still all too familiar:
Trump’s name → FOMO → tens of millions in market cap → insiders dump → the last buyers end up holding the bag.
That’s exactly why I’m increasingly skeptical of projects that rely only on a brand name and hype.
Crypto needs value.
Not an added famous name to provide liquidity for someone else to exit their positions. 🥶
#Trump #Crypto #Solana #GOLD #RugPull
