Plunge

Donald Trump

Solana

Token

<p>The post <a href="https://coinpedia.org/news/djt-token-soars-180-on-trump-rumors-while-polifi-tokens-plunge-10/">Did Donald Trump Just Launch His Own Crypto? $DJT Token EXPLODES 180%</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Rumors are swirling that former U.S. President Donald J. Trump is considering launching his own cryptocurrency, named DJT, on the <a href="https://coinpedia.org/beginners-guide/what-is-solana-blockchain/" target="_blank" rel="noreferrer noopener">Solana blockchain</a>. This potential move would mark a historic first for a major political figure entering the cryptocurrency arena.</p> 
<p>However, skepticism about the project’s legitimacy remains widespread.</p> 
<p>Here’s the full (real) scoop. </p> 
<h2 class="wp-block-heading" id="h-the-djt-token-surge"><strong>The DJT Token Surge</strong></h2> 
<p>On Monday, DJT, a newly minted token on <a href="https://markets.coinpedia.org/solana/" target="_blank" rel="noreferrer noopener">Solana</a>, saw a staggering 180% increase in value following unconfirmed reports linking it to Donald Trump. Pirate Wires, a media outlet, suggested Trump’s son Barron might be involved in the project, further fueling speculation.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Per conversations, Trump is launching an official token —&nbsp;<a href="https://twitter.com/search?q=%24DJT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DJT</a> on Solana. Barron spearheading.</p>— Pirate Wires (@PirateWires) <a href="https://twitter.com/PirateWires/status/1802825492405669930?ref_src=twsrc%5Etfw">June 17, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>While DJT surged, other tokens tied to political figures saw significant losses. PoliFi tokens, bearing Trump’s name, dropped over 10%, with the Trump token’s market cap falling by 30% to $370 million. Tremp, a satirical token blending Trump and Donald Duck, tumbled over 40%, and even the Biden-themed Boden token experienced a 30% decline.</p> 
<h2 class="wp-block-heading" id="h-hoax-or-genuine-a-mixed-bag-of-reactions"><strong>Hoax or Genuine? A Mixed Bag of Reactions</strong></h2> 
<p>The authenticity of the DJT token is under scrutiny. </p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Unless Trump's team uses Kucoin (where you can't buy crypto in the US), this ain't Trump <a href="https://t.co/ak6SZjujbJ">https://t.co/ak6SZjujbJ</a> <a href="https://t.co/KY9VzpjQI5">pic.twitter.com/KY9VzpjQI5</a></p>— Conor (@jconorgrogan) <a href="https://twitter.com/jconorgrogan/status/1802840583624642656?ref_src=twsrc%5Etfw">June 17, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Ryan Selkis, founder of Messari, expressed doubts, estimating a 50-50 chance of the token being genuine. On Polymarket, a crypto prediction platform, bettors placed just a 7% probability on Trump launching a token by Friday.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">I’m not 100% sure whether the Trump memecoin is real or an op, but I’m 50-50.<br><br>I offered to help the people that reached out with legal and biz intros but told them I wouldn’t take anything in return because I got the vibes that the guy who approached me is a Fed.<br><br>Stay safe!!!</p>— Ryan Selkis (d/acc) 
   <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f1fa-1f1f8.png" alt="🇺🇸" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@twobitidiot) <a href="https://twitter.com/twobitidiot/status/1802844968341708910?ref_src=twsrc%5Etfw">June 17, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Mike Solana, editor-in-chief of Pirate Wires, clarified he hadn’t directly spoken with Trump and acknowledged the possibility of Trump disavowing any connection to the token. Meanwhile, Martin Shkreli, known for controversy in the pharmaceutical industry, denied involvement but claimed knowledge that DJT is indeed a genuine project linked to Trump’s campaign.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">getting a lot of inbound here. no, didn't speak with trump directly, assumed this was clear (text me though, mr. president). also assume he could rug pull, or pivot, say it's not true. just reporting what I know via sources. <a href="https://t.co/rGEukksUMs">https://t.co/rGEukksUMs</a></p>— Mike Solana (@micsolana) <a href="https://twitter.com/micsolana/status/1802835894782586989?ref_src=twsrc%5Etfw">June 17, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<h2 class="wp-block-heading" id="h-implications-for-the-crypto-market"><strong>Implications for the Crypto Market</strong></h2> 
<p>Should the DJT token rumors prove true, it could have profound implications for the cryptocurrency market, particularly for tokens tied to political figures. Chad Bushnell, in a post, warned about potential consequences for SOL coins:</p> 
<ul> 
 <li><strong>If DJT is legitimate:</strong> It could swiftly attain a $10 billion market cap, redirecting $3 billion from other Solana tokens due to liquidity shifts.</li> 
 <li><strong>If DJT is a scam:</strong> It could tarnish Solana’s reputation, leading to losses exceeding $100 million and potentially depressing SOL coin values.</li> 
</ul> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Whether <a href="https://twitter.com/search?q=%24DJT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DJT</a> is a rug or not (it Defs is), will be bad for all <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a> coins:<br><br>1) If it’s real, it sends to $10B within 72h. Current MC/LP ratio is 3:1. <br>That would imply $3B in liquidity going into the coin. That means $3B coming out of all <a href="https://twitter.com/hashtag/Solana?src=hash&amp;ref_src=twsrc%5Etfw">#Solana</a> chain tokens. All other memes…</p>— Chad Bushnell (@chadbushnell) <a href="https://twitter.com/chadbushnell/status/1802963358380851376?ref_src=twsrc%5Etfw">June 18, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Whether DJT turns out to be genuine or a hoax, its impact on Solana and the wider crypto landscape is already evident. Investor sentiment and market dynamics are shifting as speculation continues to swirl.</p> 
<p>Also Read : <a href="https://coinpedia.org/news/donald-trump-crypto-holdings-now-over-32-million/">A Look Into Donald Trump’s SHOCKING $32 Million Crypto Portfolio</a></p> 
<p><strong>What are your thoughts on the legitimacy of DJT Tokens? Tell us.</strong></p>

Did Donald Trump Just Launch His Own Crypto? $DJT Token EXPLODES 180%

Table of Contents

CoinPedia News

Other articles published on Jun 18, 2024

Terra Luna Classic (LUNC) Burn Tax Change Proposal Officially Passed

New Solana Memecoin Spongebob Crypto Will Skyrocket 12,000%, While Shiba Inu and Dogecoin Lag

Why Are Meme Coins Falling?

Trump speculation fuels DJT memecoin 350% rally, but uncertainty remains

Optimism (OP) in Bearish Trend After Breaking $2.05 Level

MoonBag Top Crypto Presale, Experts Predicts 10x Rise by December, Leaving Behind Shiba Ibu And A...

Join our free newsletter for daily crypto updates!