The post DJT Meme Coin Spikes 1,000% After Donald Trump Rumors appeared on BitcoinEthereumNews.com.

DJT, a new meme coin on Solana (SOL), is seeing a surge in trading activity and a massive price spike following a rumor that the token is an official crypto token from former US President Donald Trump. If the rumor is true, it would mark the first time a US presidential candidate has launched their own cryptocurrency. However, at the time of writing, there is no official statement from Trump’s side regarding the news. DJT Witnesses Over 1,000% Surge in the Last 24 Hours The rumors started with a tweet from The Pirate Wires’ X (Twitter) account on Monday. The platform reported that Trump is launching DJT as his official token, spearheaded by his son—Barron Trump. Mike Solana, Editor-in-Chief of Pirate Wires, shared the token’s contract address in the thread. Yet, he later clarified that he had not spoken with Trump directly and was simply reporting information from his sources. Read more: How to Buy Solana Meme Coins: A Step-By-Step Guide These tweets sparked a frenzy around the DJT, which has the same name as Trump’s company, Trump Media and Technology Group, stock ticker. According to DEX Screener data, DJT momentarily reached a market capitalization of over $5 million at 22:30 on June 17. However, at the time of writing, its market capitalization has decreased to $794,990. DJT is now trading at $0.0007990, representing an increase of 1,451% for the last 24 hours. DJT Price Performance. Source: DEX Screener This news has sparked debates within the crypto community. Tommy Shaughnessy, co-founder of Delphi Digital, advised caution. He suggested that the Pirate Wires account might have been hacked and that DJT could be a scam. Additionally, Shaughnessy noted several red flags from the DJT token. These include the lack of a locked liquidity pool, funding from KuCoin, and a high concentration…

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Filed under: News - @ June 18, 2024 11:22 am