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Cryptocurrency News Articles
Donald Trump Jr. Distances Himself from RTR Memecoin, Confirms Long-Term Project
Aug 09, 2024 at 12:04 pm
Just recently Donald Trump Jr had shared a tweet where he spoke about shaking up the crypto world with emphasis on Defi, he is soon back with a comment on memecoins.
Donald Trump Jr. has shared another tweet, this time regarding memecoins. When asked about the RTR (Restore the Republic) memecoin, he stated that his project is a “larger type of platform” compared to meme tokens, while expressing respect for memecoins.
“There’s a lot of guys doing great stuff. I love memecoins and that culture. I love what those guys are doing with some friends of mine. It’s great, but I just have to make sure that people understand that you can’t conflate one thing with another.”
RTR, A Pump-and-Dump Scheme?
The Trump-themed RTR token attracted attention within the crypto community following an alleged rug pull after a dump from insider wallets.
According to data on Lookonchain, the meme coin was funded by certain wallets with $882K worth of SOL. After the token rallied briefly, the wallets quickly sold their holdings, shedding 92.77M RTR for 31,994 SOL (around $5.05 million) and making a profit of 26,414 SOL (around $4.17 million).
While the RTR token quickly soared and fell amid rumors of being associated with Trump, it is now being viewed as an apparent ‘pump-and-dump scheme. Its market capitalization ripped to over $100 million within an hour of its launch on Thursday, however, its value plummeted back to $9.2 million, over 90% reversal.
Interestingly, Eric Trump clarified that the rumor is absolutely false. While Trump Jr. clarified that he is not calling RTR a scam, he also stated that the token is not associated with the project he and Eric are building.
Trump Jr. Confirms Long-Term Project At Play!
Also Donald Trump Jr. on Thursday tweeted, “I love how much the crypto community is embracing Trump. It’s absolutely incredible, but beware of fake tokens claiming to be part of the Trump project.”
He further added that the project is going to be a non-memecoin project intended as a “long term play” and that they will announce it directly when it is ready.
There are currently 162 Trump or MAGA-themed crypto tokens, up from 111 just two weeks ago. This proliferation of Trump-related tokens showcases how politics intersects with crypto and the potential for such kinds of exploitation in unregulated markets.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
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- Crypto All Stars Raises $1.18M as Meme Coin Staking Platform MemeVault Nears Launch
- Sep 11, 2024 at 04:35 am
- The path to easier meme coin staking has never been closer as Crypto All-Stars ($STARS) raises $1.18 million in its ongoing presale.
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- ORDI Price Prediction 2024: Will the BRC-20 Token Recover After a -20% Drop?
- Sep 11, 2024 at 04:35 am
- In this article, explore the latest ORDI price prediction, as 99Bitcoin’s continues to track the leading BRC-20 token’s performance on the market week-on-week.
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- Memebet Casino ($MEMEBET Token) Breaks New Ground in the Online Gaming Space
- Sep 11, 2024 at 04:35 am
- Memebet Casino ($MEMEBET Token) is breaking new ground in the online gaming space with its ICO, which has already raised $150,000 in minutes
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- This Pattern Indicates XRP Price Will Rally to $227
- Sep 11, 2024 at 04:25 am
- Ripple (XRP) has lost value in the last month, dropping by 5.61%. However, its market capitalization has gone up by 1.23%, and more people have been buying it lately
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- Tether, TRON, and TRM Labs Join Forces to Fight Crypto Crime
- Sep 11, 2024 at 04:25 am
- TRON, Tether, and TRM Labs joined forces and established a T3 Financial Crime Unit (T3 FCU). This initiative seeks to bolster public-private cooperation in combating financial crime in the crypto space.
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- Kamala Harris and Donald Trump Fan-Themed Memecoins Experience Contrasting Price Movements Ahead of Upcoming US Presidential Debate
- Sep 11, 2024 at 04:25 am
- The Kamala Harris and Donald Trump fan-themed memecoins have experienced contrasting price movements ahead of the upcoming U.S. presidential debate.
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- Shiba Inu (SHIB) Price Prediction: On-Chain Analysis Reveals Potential Downturn
- Sep 11, 2024 at 04:20 am
- Shiba Inu (SHIB) price prediction: On-chain analysis reveals potential downturn. SHIB's price could experience a downturn rather than an upswing.
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- Alchemy Pay Integration with The Open Network (TON) Promises Seamless Crypto Transactions for Telegram Users
- Sep 11, 2024 at 04:20 am
- Alchemy Pay is in the news today after it announced its integration with The Open Network (TON). This strategic partnership aims to allow Telegram
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- CYBRO Presale Climbs Past $1.8 Million: A One-in-a-Million DeFi Investment Opportunity
- Sep 11, 2024 at 04:20 am
- CYBRO is capturing the attention of crypto whales as its exclusive token presale quickly surges above $1.8 million. This cutting-edge DeFi platform offers investors unparalleled opportunities to maximize their earnings in any market condition.
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