Trump-Themed Memecoin Scam: GOLD's Price Plummets After Promotional Post Deletion

A Trump-themed memecoin called GOLD was recently involved in a scam known as a 'rug pull.'

The scammers behind the token accumulated over 82% of the total supply and artificially inflated its value, which briefly reached $66 million.

The price collapsed to just $1 million within half a minute after a promotional post was deleted, leaving late buyers with worthless tokens while the scammers profited from their dumped holdings, netting around $1.01 million in SOL.

This incident is part of a well-documented pattern on Solana where low-liquidity tokens are promoted through social media influencers or seemingly official channels to artificially inflate prices and then sell off holdings.