Trump-Linked Memecoins Plummet Over 30% Amid Rumors of Official DJT Token Launch

Memecoins associated with Donald Trump, including MAGA (TRUMP), experienced a significant drop of over 30% amid rumors of an “official” token launch on Solana by Trump’s team. Pirate Wires shared in a June 17 post to its 63,800 followers that Trump was launching a token called TrumpCoin under the ticker DJT, supposedly spearheaded by his 18-year-old son, Barron. Despite these claims, Trump’s team has not confirmed the token launch. Blockchain data firms like Bubblemaps are skeptical about DJT’s connection to Trump, noting that around 67% of the supply is in one cluster and that 43% is on Solana-based automated market