Pure corruption: Trump SCAMCOIN

Not every day a US president launches a Solana memecoin. It’s a rare incident but not impossible. That’s right, folks. The 45th and now 47th President of the United States,Donald J. Trump, launched his very own meme coin. And within 48 hours, it hit a market cap of $72 billion. But here’s where things get crazy. This wasn’t just any meme coin. It was launched on the Solana blockchain and backed by Trump-affiliated entities. Sounds too good to be true, right? Well, that’s because it was. Crypto currency is a very new thing for common man and when they hear other peoples flashy stories about how much money they are making by investing in crypto, they get inspired to do the same and it looks like Trump decided to cash out on this desire of his supporters. Trump posted on his X account and asked them to join his special Trump community. Once you go to the page you have to buy something which is a meme coin and wait for it to go up in value. Now, before we go into any further details let’s talk about what actually a Meme coin is? Meme coins are cryptocurrencies inspired by jokes, memes, or internet culture. Think Dogecoin, Shiba Inu, and the infamous PEPE coin. These coins rely heavily on community hype rather than real-world utility. And guess what? The Trump meme coin played right into this hype machine. At its peak, Trump's meme coin market capitalization was close to $72 billion, but now it is only worth a pitiful $17 per token. Analyses revealed that while the creators and their partners profited around $100 million from trading fees, over 800,000 investors collectively lost about $2 billion. The investors and the president didn’t just pull off a small-time scheme—they planned a massive con, siphoning away billions of dollars. This wasn’t just a case of bad investments or market downturns; it was a deliberate, calculated grift.