TrumpCoin

A newly launched cryptocurrency called Restore the Republic (RTR) on the Solana blockchain surged to a $155 million market value before crashing 95% after Eric Trump clarified that his father, Donald Trump, does not have an official token.The token had gained momentum after rumors, amplified by conservative activist Ryan Fournier, suggested it was backed by the Trump family. However, Eric Trump debunked the rumors, warning of &#34;fake tokens,&#34; which led to a sharp decline in RTR&#39;s value.The incident highlights the risky and volatile nature of memecoin markets, where speculation and misinformation can lead to significant financial losses. Blockchain data revealed that early investors made $4 million in profits during the token&#39;s brief surge, further underscoring the market&#39;s susceptibility to manipulation and &#34;rug pulls.&#34;

Trump-Themed Token Plummets 95% After False Rumors of Endorsement

DroomDroom

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