Solana Ecosystem Meme Coin GOLD Surges Briefly and Then Retreats, with a Market Cap of $36 million

BlockBeats News, August 29, according to GMGN market data, the Solana ecosystem Meme coin Trump Digital Gold went live this morning. Within two hours of the launch, the market cap surged to over $60 million, then plummeted to $10 million. As of the time of writing, the market cap has rebounded to $36 million.

This Meme coin is centered around the narrative of "Trump Digital Gold" and was launched by @realtrumpcoins1. This account is dedicated to promoting and selling official collectible coins/medals related to Trump and is an official partner of The Trump Organization. Due to limited details available, the community widely questions the authenticity of this Meme coin. There are suspicions of the official account being hacked, but as of now, the related tweets are still present on the realtrumpcoins account and have garnered nearly 400,000 views.

Community members caution that the association of this project with websites/links does not equate to official confirmation. They refer to Eric Trump's previous statement that "no one is issuing coins, otherwise it's a scam," and urge everyone to wait for a clear endorsement before taking any action. The Chinese community and various multilingual communities are generally reminding people to "not blindly FOMO" and to "wait for confirmation before considering any actions."

BlockBeats reminds users that Meme coin prices are highly volatile and mostly lack practical use cases, so it's advisable not to FOMO.