Recently, Truth Social, the social media platform owned by Trump, refuted the widespread rumors about the upcoming launch of meme coins, claiming that these rumors were fake news.
The heated discussion about Trump-associated meme coins initially originated from the message posted by TV host Ran Neuner on X (formerly Twitter). As the host of CNBC’s program “Crypto Trader” and the podcast program Crypto Banter, Ran Neuner said that Truth Social will launch a meme coin within 72 hours. He wrote in the post: “It looks like a group of people similar to the $TRUMP team.” It also reminds everyone to “stay alert and don’t blink.” This piece of news quickly drew the attention of the crypto community, with many users engaging in speculation and discussion around this so-called new meme coin.
Wendy O, a well-known opinion leader in the crypto field, considers this meme coin issuance “silly”, and she also said that the team “could simply use $TRUMP directly”.
As rumors continued to spread in the crypto community, Donald Trump Jr., the youngest son of former US President Donald Trump, It also promptly posted on X (formerly Twitter), reminding the community not to be deceived by false information. In his post, he said, “The claim that Truth Social is going to issue meme coins is completely groundless. Don’t be taken advantage of by these circulating false news.”
In addition, WLFI, a crypto project supported by the Trump family, also came forward to clarify that it is the only DeFi project with an official connection to President Trump. WLFI emphasized that all other tokens claiming to be associated with Trump are scams, “they are trying to take advantage of those users who are unaware of the truth,” and reminded everyone, “Don’t be fooled. There is no such thing as a ‘new Trump coin’. WLFI is the only DeFi project backed by the Trump family.”
It is worth noting that the recent trend of the official Trump Coin has been relatively optimistic. In January this year, the former president who supports cryptocurrencies launched his personal token $TRUMP on the Solana chain. Meanwhile, First Lady Melania Trump also listed a meme coin named $MELANIA. However, both of these meme coins have experienced significant corrections since their launch. As of the time of publication, $TRUMP is quoted at $12.77 and $MELANIA at $0.374.
According to CoinMarketCap, the official Trump Coin has risen by 17% over the past seven days, with a monthly increase of 49.7%. But at the same time, data also shows that the intraday trading volume of $TRUMP has dropped by nearly 10%. When the coin was launched at the beginning of the year, it once soared to an astonishing price of $80, but then plunged sharply in March, with a drawdown of up to 85%.
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