Trump-owned Truth Social denies it is launching a memecoin
Truth Social has denied rumors of launching a memecoin, stating, “Contrary to rumors, Truth Social is not launching a memecoin.” Donald Trump Jr. also refuted the claims, emphasizing that there is no truth to the information circulating. The rumors originated from influencer Ran Neuner, who suggested a Truth Social token would be launched soon, allegedly backed by the team behind the TRUMP token. Donald Trump has previously engaged in cryptocurrency, launching the TRUMP token, while Melania Trump introduced a MELANIA token. The TRUMP token has faced criticism, particularly regarding a gala invitation for top token holders, which drew backlash from US senators. Concerns arose over the majority of TRUMP token holders potentially being outside the US, with 220 wallets holding over 13.7 million tokens valued at approximately $174 million. The TRUMP token has seen significant volatility, dropping over 80% from its peak but recently increasing nearly 14% in value.
