TrumpCoin Soars 442% After Rumors Donald Trump Is Behind DJT Token, Triggering PolitiFi Crypto Crash

TrumpCoin (DJT) surged greater than 442% prior to now 24 hours after a report claimed that Donald Trump is behind the token, triggering a crash amongst political meme cash that wiped greater than 29% off their worth.

“Trump is launching an official token” named TrumpCoin below the ticker DJT, Pirate Wires claimed in a Jun. 17 put up on X. Trump’s son Barron is “spearheading” the undertaking, the media outlet added. 

Doubts Over Trump’s Involvement In TrumpCoin (DJT)

Pirate Wires editor-in-chief and Founders Fund CMO Mike Solana shared the good contract tackle for the token in a reply to the media outlet’s put up.

He went on to make clear that he has not spoken with Trump immediately, and shared his assumption that the previous president “might rug pull, or pivot, say it’s not true.” 

getting numerous inbound right here. no, did not communicate with trump immediately, assumed this was clear (textual content me although, mr. president). additionally assume he might rug pull, or pivot, say it is not true. simply reporting what I do know through sources. https://t.co/rGEukksUMs

— Mike Solana (@micsolana) June 17, 2024

Trump’s crew has not confirmed whether or not the previous president is concerned within the DJT token’s launch. Regardless of the Pirate Wires report, a number of members of the crypto neighborhood doubt he has something to do with the token. 

Messari founder and vocal Trump Supporter, Ryan Selkis, stated in a Jun. 18 put up on X that there’s a “50-50” probability that the DJT token may very well be a authentic undertaking or one other act of deceit. Polymarket solely offers a 17% probability that the previous president is behind the DJT token.

I’m not 100% positive whether or not the Trump memecoin is actual or an op, however I’m 50-50.

I supplied to assist the those who reached out with authorized and biz intros however instructed them I wouldn’t take something in return as a result of I obtained the vibes that the man who approached me is a Fed.

Keep protected!!!

— Ryan Selkis (d/acc) 🇺🇸 (@twobitidiot) June 17, 2024

Traders Abandon Older Trump-Linked Tokens 

Tokens primarily based on Trump, together with MAGA Once more (MAGAA), Trump Mania (TMANIA), Doland Tremp (TREMP), trumpie (TRUMPIE), and MAGA (Trump), registered a number of the steepest losses amongst PolitiFi cash prior to now 24 hours of buying and selling.

MAGAA bled probably the most after it plunged over 57%, whereas TMANIA and TRUMPIE noticed their costs drop greater than 51% and 38%, respectively. In the meantime, each TREMP and TRUMP skilled losses exceeding 30%. 

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