Michaela Alvez
Meme coin traders have struggled to navigate the growing influx of Trump-themed tokens, as numerous fake Trump memecoins emerged shortly after the release of the official coin, making it difficult to distinguish legitimate offerings from the noise.
Traders are closely monitoring the market for additional Trump-branded meme coins after the official token bearing President Donald Trump’s name briefly surpassed a fully-diluted valuation (FDV) of $80 billion on January 18 — just one day after its launch.
The Trump family has officially endorsed only one other token besides the Trump-branded coin: Official Melania (MELANIA), a cryptocurrency named after First Lady Melania Trump. According to CoinMarketCap data, MELANIA reached a fully diluted valuation (FDV) of approximately $14 billion before pulling back to under $6 billion as of January 20.
Just days before the presidential inauguration, President Trump’s advisory team unveiled the TRUMP meme coin on January 18, followed by the MELANIA token the next day, both launched on the Solana blockchain.
Initially, traders raised concerns that the launch could be the result of a social media hack, a tactic often used by scammers. However, the Trump team soon verified the authenticity of the meme coin, leading to a significant surge in its price.
The spike in activity generated by the launches overwhelmed crypto exchanges like Coinbase, resulting in transaction delays as platforms struggled to handle the unprecedented influx of users.
Fake Trump Memecoins
Simultaneously, numerous unofficial knockoff tokens gained significant traction, reaching market capitalizations in the hundreds of millions before experiencing sharp declines.
Eric Trump, son of the president, dismissed speculation surrounding a possible “USA coin” being the next meme coin project from the Trump family. On January 20, crypto influencer Kook raised concerns about the rumored official launches of meme coins associated with Barron and Eric Trump.
The so-called Official Barron Meme (BARRON) token briefly reached a market cap of approximately $400 million, only to see a dramatic decline of over 90%, as reported by DEX Screener.
Many users have labeled it a rug pull, as the largest wallet holders rapidly sold off their tokens, causing the meme coin’s value to plummet. One user claimed to have lost $1 million due to the sharp decline.
Crypto influencer Sajad emphasized that the decline of $BARRON was unrelated to the Trump family. “Just cos it has the word ‘official’ does not mean real. Also since when have the Trumps decided to launch coins on pump.fun,” he wrote in a post on X.
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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
