Allegations that an altcoin is the official token of former US President Donald Trump have caused a significant surge in its price. The token, known as DJT, experienced a remarkable increase of up to 180% after rumors surfaced about Trump’s involvement with it. This cryptocurrency, which runs on the Solana blockchain and was created just two months ago, has sparked interest in the market due to the potential connection with the former president.
Reports from Pirate Wires, a media outlet known for its critical views on Bay Area politicians and enthusiasm for technology, suggested that Trump may be launching the DJT token officially. The news also mentioned Trump’s son Barron as being involved in leading the project. Following these reports, other policy-themed tokens linked to Trump saw a decline in value. The Trump token, with a market cap exceeding $370 million, dropped by 30%, along with the Joe Biden-themed Boden token.
Mike Solana, however, clarified that he had not directly communicated with Trump and warned that the claims could be false or misleading. He emphasized that he was sharing information based on his sources and not providing investment advice. As the market reacts to these developments, it is important for investors to stay informed and cautious. For those interested in trading over 300 cryptocurrencies, registering with Binance exchange with a 20% commission discount can provide access to a wide range of options. Stay updated on the latest news, analytics, and on-chain data by following our Telegram and Twitter accounts.