According to GMGN market data, on August 29, the Solana-based meme coin Trump Digital Gold (GOLD) suffered a dramatic collapse, losing more than 95% of its market value in just one minute. Its market capitalization has since fallen to about $1.8 million. The token is built around the 'Trump Digital Gold' narrative and was promoted through the X account @realtrumpcoins1, an account that pushes and sells official Trump-branded collector coins and medals, and is described as an official partner of The Trump Organization. However, the community is widely questioning whether the token is authentic, and some have raised the possibility that the account was hacked. Community members are reminding others that an apparent connection to a website or links does not mean official confirmation. They are also citing an earlier statement from Eric Trump — 'No one is issuing a coin, otherwise it is fraud' — and urging people to wait for clear endorsement before taking any action. Warnings against blind FOMO have appeared across Chinese-language and multilingual communities, with many telling users to 'wait for confirmation first.' BlockBeats reminds users that meme coin markets are highly volatile, and most such projects lack real use cases, so users should not FOMO.
A Solana-based meme token called Trump Digital Gold (GOLD) has lost more than 95% of its market value in one minute, according to GMGN market data. Its market capitalization now stands at around $1.8 million.
The token is built around the 'Trump Digital Gold' narrative and was announced through the X account @realtrumpcoins1. That account promotes and sells official Trump-branded collector coins and medals, and is described as an official partner of The Trump Organization.
Yet many in the crypto community are skeptical. With few details public so far, doubts have emerged over whether the token is genuinely linked to the Trump Organization and whether the account itself may have been hacked. Community members caution that an apparently related website or links do not amount to official confirmation.
They also point to an earlier statement from Eric Trump: 'No one is issuing a coin, otherwise it is fraud,' urging people to wait for a clear endorsement before acting. Warnings against blind FOMO have spread across Chinese-language and multilingual communities, with many saying 'wait for confirmation first.'
BlockBeats reminds users that meme coin markets are extremely volatile and most projects have no real use case, and advises against FOMO.
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