Trump Digital Gold Token Loses Nearly All Value After Rapid Sell-Off
A token called Trump Digital Gold (GOLD) launched on Solana and quickly gained attention after an X account, @realtrumpcoins1, posted its contract address. The account holds a verification badge and over 42,000 followers, describing itself as an official partner of the Trump Organization. Donald Trump follows this account.
The token's market cap briefly reached $66 million around 9 a.m., before collapsing by nearly 99% in roughly 30 seconds to approximately $700,000. On-chain analyst EmberCN reported that wallets controlling 82.45% of the token supply sold their entire holdings for about $1.01 million in Solana.
A verified X account linked to Trump merchandise promoted the token, but no member of the Trump family authorized it. Eric Trump had denied any new coin launch just one week earlier, calling similar rumors a fraud. The promoting account later deleted its posts and the linked website is a separate domain from the official Trump Organization's retail site.