TRUMP Price Volatility Spikes as Investors Panic Sell Amid Accusations of Rug Pull

The memecoin Official Trump (TRUMP) has seen extreme price volatility over the past day, surging 10.2% to a high of $3.06 before dropping back down to $2.7.

This sudden increase was largely driven by investors believing that GOLD, a recently launched token, was actually an update or spin-off of TRUMP, dubbed 'TRUMP 2.0'.

However, when it was revealed that the team behind GOLD had been accused of a rug pull, sentiment quickly shifted and investors started to panic sell.

This led to a wave of liquidations, with over $13.57 million in total positions being closed out, including $8.4 million in longs and $5.1 million in shorts.