fake cryptocurrency of Trump and Melania

fake cryptocurrency of Trump and Melania

Following the inauguration ceremony of the U.S. presidency, fraudulent tokens designed to imitate the "official Trump token" and "official Melania token," denoted by the symbols TRUMP and MELANIA on the Solana network, have resulted in substantial losses for many users.

 

On January 20,2025,  a wave of new meme coins was introduced on the Solana network, with 61 tokens falsely claiming to represent the official tokens of Donald and Melania Trump. These counterfeit tokens attracted over $4.8 million in demand from 12,641 wallets within just one day. According to security firm Blockaid, the number of suspicious tokens associated with the Trump name surged from 3,300 to 6,800 in a single day.

 

Alan Orwick pointed out that these tokens exemplify a scammer's tactic of leveraging celebrity figures to draw in unsuspecting investors. Many of these tokens employ a rug pull strategy, marked by high trading volumes and minimal liquidity. These imitation tokens often inflate their statistics to entice buyers.

 

At the time of this report, there are 38 counterfeit TRUMP tokens and 23 fake MELANIA tokens being traded on decentralized exchanges on Solana. Out of the fake Trump tokens, only nine possess a liquidity of at least $10,000. In the last 24 hours, liquidity pools for six of these tokens have been entirely depleted, indicating a rug pull operation. One token's liquidity also plummeted from $54,000 to below $10,000.

 

Currently, the liquidity of two counterfeit Trump tokens remains stable, but the trading volume for one is not expected to rise in the near future. Furthermore, 99% of the supply of another token is held by just two wallets. Among the fake Melania tokens, four have liquidity exceeding $10,000.

 

The official Donald Trump meme coin was launched on January 17 and rapidly achieved a diluted valuation of $71 billion, briefly ranking as the fifteenth-largest cryptocurrency by market capitalization. However, by January 20, its fully diluted valuation dropped to $40 billion. As of this report, the official Trump token is trading at $42.50, reflecting an approximate 10% price increase over the last 24 hours.

 

In summary, the TRUMP and MELANIA meme coins have seen remarkable price surges, becoming leading cryptocurrencies. Both tokens are in high demand, establishing price ceilings, but concerns about volatility persist. The day of Trump’s inauguration was pivotal, as its success could have propelled the Trump token to $100 and the Melania token to $30, although this opportunity may have been lost.

 

The TRUMP and MELANIA meme coins have swiftly gained traction in the market, marked by significant price increases and high trading volumes. However, they have also faced volatility and notable declines, raising concerns about their long-term viability. We will examine potential price movements for these tokens by the end of January.

 

Donald Trump has become the first sitting U.S. president to launch a meme coin and a cryptocurrency centered around memes. While investors are excited, critics worry about his association with a volatile and unstable asset. The MELANIA meme coin quickly followed the Trump coin, experiencing a similar upward trend. Within hours of its launch, MELANIA surpassed the TRUMP meme coin, reaching an all-time high of $13.73. However, volatility soon ensued, resulting in significant corrections, and it is now trading at $5.49.

 

The decision to launch a meme-themed cryptocurrency ahead of inauguration day was significant. The crypto community is closely watching these tokens’ performance, although concerns about a potential crash remain.

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