On-chain analyst Yujin tracked the collapse of Trump Digital Gold ($GOLD), a Solana token whose operator just sold its entire 82.454% supply. The dump brought in 9,784.6 SOL, or about $1.01 million. GOLD was created on Solana at 7:38 a.m. Aug 29, and the operator accumulated 824.54 million tokens through allocation and post-listing buys. Around 9 a.m., realtrumpcoins, a Trump merchandise account, put out a tweet with the token address; GOLD's market cap later peaked at $66 million. That tweet was deleted at 11:48 a.m., and the scam wallet started selling immediately. Market cap sank from $55 million to $1 million in 30 seconds, leaving incoming buyers trapped. The operator kept dumping through the afternoon and by around 2 p.m. had disposed of everything, taking 9,784.6 SOL ($1.01 million) in the process. GOLD's market cap ended around $700,000, a 99% loss from the high. The cycle from launch to washout took only hours.
On-chain analyst Yujin tracked the life cycle of Trump Digital Gold ($GOLD), a Solana token flagged as a scam. The scheme's operator just sold every token it held.
Blockchain data shows the address dumped the full 82.454% stake, converting it into 9,784.6 SOL, worth about $1.01 million. GOLD was created on Solana at 7:38 a.m. on Aug 29, and the operator ended up controlling 824.54 million tokens through allocation and post-listing buys.
Tweet from Trump merch account fueled the run
Around 9 a.m., realtrumpcoins, an account tied to Trump merchandise, posted a tweet that included the token address. GOLD quickly jumped, pushing its market cap as high as $66 million.
30-second crash after tweet deletion
The tweet was deleted at 11:48 a.m., and the operator's wallet began dumping almost immediately. Within 30 seconds, market cap went from $55 million to $1 million. Investors who had been drawn in were trapped.
Selling continued into the afternoon. By around 2 p.m., all 82.454% of the tokens were gone, and the operator walked away with 9,784.6 SOL ($1.01 million). GOLD's market cap settled at roughly $700,000, a 99% collapse from the peak.
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