Trump-Linked GOLD Token Implodes After 99% Crash on Solana
A token linked to Donald Trump's family crashed by 99% just hours after its launch on Solana, with wallets controlling 82.45% of its supply selling their entire holdings for over $1 million.
The token, called GOLD, was created around 7:38 a.m. and promoted roughly ninety minutes later by @realtrumpcoins1, a verified X account followed by Donald Trump whose bio describes it as an official partner of a licensed Trump merchandise brand.
Before the promotional post was deleted around 11:48 a.m., the token's market cap reached $66 million. Within about thirty seconds after the deletion, the market cap fell from roughly $55 million to $1 million.
A developer wallet held 600 million GOLD tokens while fifteen newly created wallets spent $18,657 to acquire another 224.5 million. Together, those wallets controlled 824.5 million tokens, or 82.45% of total supply. Their full liquidation brought in 9,784.6 SOL ($105.04), worth roughly $1 million at the time of the sale.
Eric Trump had denied any new Trump-family coin was coming just a week earlier on August 22, writing on X that 'no one is launching any kind of coin' and that any suggestion otherwise was 'a fraud.'