GOLD Altcoin Price Plummets After Rapid Rise
A new altcoin called GOLD was launched within the Solana ecosystem, promoted by an account linked to Donald Trump. The token's launch generated great interest, with its market capitalization reaching over $60 million in approximately two hours. However, the price plummeted rapidly after a sharp rise.
The initial price of $10 million briefly recovered to around $36 million before selling pressure intensified, causing the market value to drop by over 95% in just one minute. The token's price fell from $1.8 million to approximately $600,000 after the post promoting the project was deleted.
The account @realtrumpcoins1, which sells official Trump-themed collectible coins and medals, is linked to The Trump Organization. This led to speculation that the token might be associated with the Trump family. However, there has been no confirmation from the Trump family or The Trump Organization regarding the project.
Social media users have suggested that the account may have been hacked, and the GOLD token may have been launched by attackers. The attacker allegedly claimed that over $8.2 million in profits were generated with the launch of the GOLD token and stated that the funds obtained would be used for a bounty on the relatives of US President Donald Trump.