Trump Digital Gold Token Implodes 99% After Insider Liquidation

A Solana-based token called Trump Digital Gold (GOLD) reached a $66 million valuation before plummeting nearly 99% within approximately 30 seconds, according to blockchain data analysts.

The token's value dropped from $55 million to just over $700,000 after insider wallets controlling 82.45% of the total supply liquidated their positions, netting around $1.01 million worth of Solana. This massive liquidation was facilitated by the token's rapid deployment capabilities on the Solana network.

The token received promotion from a verified X account associated with Trump merchandise, though no Trump family authorization was established. The promotional content was removed after the market cap peaked at $66 million around 9 a.m., and the value continued to decline until it was down nearly 99% by early afternoon hours.

The incident follows a pattern of politically themed token scams on the Solana network, with a similar token called BARRON executing an identical pattern in January 2025. The Securities and Exchange Commission has issued warnings about fraudsters exploiting social media to artificially inflate token valuations before dumping positions.