Is Trump launching his official meme coin?
A new Trump-themed crypto has launched, sparking debate in crypto circles. Trump supporters have also been targeted by hackers. Get to know more.
Trump Coin crypto rumours swirl as former president drops hints
As the heated US presidential election campaign continues, Donald Trump may look to go further in the crypto industry by launching a new meme coin called ‘Trump Coin’. While there is no official claim that the said token is tied to Trump, the coin began trading with a market cap of $73 million, trading as high as $35 per coin.
Key Takeaways
- New Trump-related meme coin called the ‘Trump Coin’ has been launched with a current market cap of $73 million. All the while, there is still no official announcement from Trump's team that the new token is linked to Donald Trump.
- After the launch of the new meme coin 'DJT', other Trump-related meme coins such as 'MAGA' and 'TROG' experienced price declines.
With Trump's strong presence in the crypto industry and rumours of an official ‘Trump Coin’ launch, crypto hackers are working overtime to capitalise on loyal Trump supporters. Here's what you need to know about the current ‘Trump token’ situation and how bad actors are trying to exploit Trump supporters.
What you need to know about Trump token
A new token called the Trump token has recently been launched by an unknown party. Industry experts are working to determine the origins of this new meme coin. The token is registered on the Solana blockchain under the symbol DJT, which is the stock symbol for Trump's social media platform, Truth Social. The coin is also known as the 'Trump Coin'.
The Trump Coin is now in line with other popular Solana-based meme coins such as 'Dogwifhat', 'Jeo Boden', and 'Mother Iggy', which are mainly influenced by internet trends and pop culture. The Trump Coin is now one of the most popular meme coins inspired by political figures with the potential to grow into a staggering market cap just like other meme coins like Dogecoin.
Meme coins linked to Trump are not new. There has previously been a 'Make America Great Again' (MAGA) coin with the ticker 'TRUMP', which currently has a market cap of around $400 million. There's also the TROG coin, which features a frog wearing a MAGA hat, and has a current market cap of $7.38 million.
What’s interesting is that the prices of both the MAGA and TROG coins fell after the recent release of the new Trump Coin. So the launch of this latest meme token seems to have impacted the market for existing Trump-related meme coins. Industry experts are still looking for signs if Trump is officially linked to this already successful new meme coin.
Crypto scammers target major Trump fans
Amidst the hype around the new Trump Coin meme token, a wave of scammers and hackers are seeking to take advantage of the strong supporters of Donald Trump. This is especially concerning as Trump has announced that his 2024 presidential campaign will be open to accepting crypto donations.
As a result, a plethora of fake websites and fraudulent donation centres have been spreading across the internet. These malicious actors are seeking to exploit the deep interest and enthusiasm among Trump supporters, by tricking them into sending funds to these fake entities.
With the ongoing hype around Trump-related meme coins and the former president's openness to accepting crypto donations for his 2024 campaign, it is advised that Trump supporters should exercise caution, especially when looking to donate or invest in these Trump-linked crypto projects or betting on the presidential elections result.
