Key Takeaways:
TRUMP jumped 40% to $2.37 on Aug 22 after Eric Trump denied rumors of a new family token, calling the claims fraudulent.
"What a joke… This is absolutely not true. No one is launching any kind of coin. If anyone is suggesting otherwise, it's a fraud," Eric Trump, son of President Donald Trump, said on X.
The denial followed an unverified post from @WhaleScan claiming Trump was "officially about to launch his new coin." Traders had spotted a "Truth Coin" token on Robinhood Chain with a 1 billion supply, of which 500 million was available at launch, 300 million set for liquidity and 200 million for growth. A developer wallet received about 300 ETH, and the token's trading fee shifted from 10% to 0.3% before reaching roughly $10.24 million in market value, with the developer wallet holding 99.9% of supply.
The episode highlights the risk of copycat tokens tied to the Trump family, whose prior launches include $TRUMP and $MELANIA in January 2025 and World Liberty Financial in 2024. Community members warned traders to avoid unverified tokens without official confirmation, as the denial may trigger short-term corrections in Trump-linked memecoins.
MELANIA gained 11% in the same session as traders rushed to buy Trump-linked tokens, while Bitcoin traded near $77,000 as the broader market held steady. The rumor spread after Trump Media & Technology Group, owner of Truth Social, had earlier explored crypto and prediction market plans, though the company now appears focused on Bitcoin holdings rather than new token launches. The family also holds ties to American Bitcoin.
The concentration of supply in a single wallet — 99.9% — is a hallmark of a potential rug pull, a pattern common in copycat launches that mimic established brands. The token's fee change from 10% to 0.3% mid-session added to the red flags flagged by on-chain analysts, who noted the absence of any regulatory filing or company detail backing the launch claim.
The denial may fuel further speculation about future launches or cause short-term price corrections depending on trader interpretation. Without an official confirmation from the Trump family, community members advised caution with copycat tokens.
This article is for informational purposes only and does not constitute investment advice.
