Trump-Themed Meme Coin Tanks 95% in Minutes as Traders Get Rugged: What Happened?

A newly launched meme coin on Solana briefly attracted millions in trading activity after it appeared on a Trump-linked X account.

Trump Digital Gold (GOLD) was published and promoted on the X account @realtrumpcoins1, which is associated with an official Trump collectible business.

The promotion immediately attracted attention, but on-chain sleuths raised some enormous red flags that didn’t stop people from getting into it.

Data from Lookonchain shows that the developer initially controlled 600 million tokens, while 15 newly created wallets spent $18,657 to acquire another 224.5 million coins. Combined, these two addresses alone controlled roughly 82.45% of the entire supply.