Donald Trump

Restore

Donald Trump Jr.

Don Jr.

<ul>
 <li><strong>Donald Trump Jr. confirms memecoin RTR as the pseudo-official token of Trump</strong>.</li>
 <li><strong>Speculations around the announcement of the crypto platform, hinted at by Trump’s son, soar.&nbsp;</strong></li>
 <li><strong>Trump Jr. endorses the goal of DeFi — banking the unbanked.</strong></li>
</ul>
<p>Dismissing all scam rumors, Donald Trump Jr. clearly asserts the new crypto entrant, Restore the Republic (RTR), is “not a memecoin” linked to Trump or his family. After the revelation, the value of RTR crashed 95% from the first post-launch peak.&nbsp;</p>
<p>The ongoing US Presidential race and Donald Trump’s <a href="https://thenewscrypto.com/trump-advocates-us-crypto-development-to-compete-with-china/" target="_blank" rel="noopener noreferrer nofollow">pro-crypto stance</a> have spurred the virality of PolitFi (Political Finance) memecoins in the crypto market. Especially, <a href="https://thenewscrypto.com/trump-based-memecoins-show-price-surges-amidst-bidens-bowing-out/" target="_blank" rel="noopener noreferrer nofollow">Trump-based memecoins</a> received maximum support from crypto traders and investors. Notably, a new memecoin Restore the Republic (RTR) launched on Solana on Thursday.&nbsp;</p>
<p>Following the token’s launch two days after Trump Jr.’s DeFi announcement hint, rumors spread that it could be the Trump family’s memecoin, while scam allegations against RTR also emerged.</p>
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 <blockquote class="twitter-tweet">
  <p lang="en" dir="ltr">Don Jr. Discusses Today's RTR Debacle on Locals Q&amp;A <a href="https://t.co/cd7pVBJAjx" rel="noopener noreferrer nofollow">pic.twitter.com/cd7pVBJAjx</a></p>— db (@tier10k) <a href="https://twitter.com/tier10k/status/1821696915613835637?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 8, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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<p>Furthermore, two of Trump’s sons — Donald Trump Jr., and Eric Trump — have expressed their love for “Crypto/DeFi” lately. According to Trump Jr.’s statement, he vouches for introducing a long-term crypto project. He also warned the community saying, “beware of fake tokens claiming to be part of the Trump project.”</p>
<h3 class="wp-block-heading" id="h-analyzing-the-crash-of-trump-based-memecoin-rtr">Analyzing the Crash of Trump-Based Memecoin RTR</h3>
<p>Four hours after the launch, RTR hit its first high at $0.1562. After the denial of RTR not being the official memecoin of Trump, RTR nosedived 95% to a low of $0.00672. On-chain analysis platform Lookonchain reported 5 “insider wallets” pulling up profits of over $4 million within 6 hours of this meme coin’s launch.&nbsp;<br><br>On the other hand, the platform also pointed out the loss of a meme whale that traded a huge sum of RTR tokens. As per data, when the token was priced high at $0.1562, the trader purchased 7.2 million RTR, nearly 1.12 million USD, using 5,687 SOL. Post the price plunge, the trader recorded a loss of over $898,500 worth of SOL.&nbsp;</p>
<div class="wp-block-image">
 <figure class="aligncenter size-full is-resized"><img decoding="async" width="1019" height="398" src="https://thenewscrypto.com/wp-content/uploads/2024/08/dexscreener.com_RTR_SOL_2024-08-09_17-13-50.png" alt="" class="wp-image-105211" style="width: 100%;height:auto" srcset="https://thenewscrypto.com/wp-content/uploads/2024/08/dexscreener.com_RTR_SOL_2024-08-09_17-13-50.png 1019w, https://thenewscrypto.com/wp-content/uploads/2024/08/dexscreener.com_RTR_SOL_2024-08-09_17-13-50-300x117.png 300w, https://thenewscrypto.com/wp-content/uploads/2024/08/dexscreener.com_RTR_SOL_2024-08-09_17-13-50-768x300.png 768w" sizes="(max-width: 1019px) 100vw, 1019px">
  <figcaption class="wp-element-caption"><em>RTR/SOL Price Chart (Source: Dexscreener)</em>
  </figcaption>
 </figure>
</div>
<p>At the time of writing, RTR traded at $0.005350 on Solana-native DeFi trading platform Meteora. As per <a href="https://dexscreener.com/solana/bamgxrark2xrw7wmv6lmj3742d29j2sz8mpwx3ztephd" rel="noopener noreferrer nofollow">data</a>, the token stood with a market cap of $5.3 million and held a liquidity of $4.3 million locked on the platform.<br><br><strong>Highlighted Crypto News Today</strong><br><a href="https://thenewscrypto.com/will-bitcoin-reach-new-price-levels-after-retracing-to-60k/" target="_blank" rel="noopener noreferrer nofollow">Will Bitcoin Reach New Price Levels After Retracing to $60K?</a>&nbsp;</p>

Donald Trump Jr.’s Upcoming Crypto Move Causes This Memecoin Crash

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