Trump Digital Gold collapses 98% within hours of Solana launch

Trump Digital Gold (GOLD) crashed 98% within hours of its launch on the Solana blockchain on Saturday. The token briefly reached a market cap of over $50 million before falling to roughly $770 000, according to DexScreener data.

Promotion and initial hype

A verified Twitter account (@realtrumpcoins1) that is followed by former President Donald Trump promoted the token, claiming an official partnership with the Trump Organization. The account had a verification badge and more than 42 000 followers, giving the launch additional credibility.

Supply concentration and early sales

Blockchain analytics firm Lookonchain identified that the token’s developer controlled 600 million GOLD, while 15 newly created wallets purchased 224.5 million GOLD for a total of $18 657. Those wallets together held 82.45% of the total supply.

Rug pull execution

Within half an hour of the purchase, the same 15 wallets sold all of their holdings for 3 178 SOL, valued at about $330 000 at the time. The sale generated a profit of roughly $312 000 for the sellers, while later buyers absorbed the remaining supply, incurring significant losses.

Questionable promotion sites

The promotional tweet linked to a now‑deleted domain (realtrumpcoins.com) and a separate look‑alike site (realtrumpcoins.com) that displayed the contract address but offered no crypto products. The site’s registration details changed on the launch day, and its checkout function stopped working shortly after.

Family denial and prior warnings

Eric Trump publicly denied any involvement with a new cryptocurrency on August 22, calling any such claims a fraud. No member of the Trump family announced the token, and the promotional posts were later removed.

Market impact

The rapid sell‑off caused the token’s price to tumble, leaving late investors with substantial losses. The incident adds to a pattern of compromised political accounts being used to promote fraudulent Solana tokens.