Trump Tokens Tumble as Eric Denies New Coin Launch
Eric Trump recently took to X to deny rumors surrounding the launch of a new cryptocurrency token. He labeled the speculation as 'What a joke…' and stated that no one is launching any kind of coin, calling those who suggest otherwise 'a fraud.'
The denial comes amidst reports of a bearish spiral for tokens linked to President Donald Trump. Official Trump (TRUMP) had reached an all-time high of $73.43 within two days of launch but has since declined to $2.58 at press time, representing a significant drop from its peak.
Melania Meme (MELANIA), launched shortly after TRUMP, also suffered a severe decline and was trading near $0.1074 at press time, nearly 99% below its all-time high of $1.74. World Liberty Financial's (WLFI) governance token reached an all-time high of around $0.33 but has since declined to $0.06 at press time, representing a drop of approximately 78%.
The decline of these tokens coincides with the Trump Media and Technology Group (TMTG), which bought 11,542 BTC for $1.368 billion at an average price of $118,529 but has since continued selling its holdings as Bitcoin declined.