A token named GoLD attracted a large number of purchases shortly after the social platform's promotion, with a market value of close to $60 million in two hours, but quickly fell sharply. The chain data then showed that the supply of tokens was concentrated in the wallets associated with the issuance, and the market therefore questioned the existence of the project in the form of coins and centralized deliveries.

Inflow of funds after promotion of account X

Coinpedia states that on 29 August, the X account number known as Realtrumpcoins1 published GoLD on-line and claimed that the project was supported by the Trump Foundation. As the account number was cited as being related to the Trump ' s peripheral commodity operations and had been followed by Trump ' s own main account number, the post was once considered credible by some traders.

Following the spread of the news, funds quickly flowed into the coin, pushing its market value from close to zero to about $6 million.

About 99% fall in minutes.

This round did not last. Reports indicate that the value of the GoLD fell in minutes from about $6.0 million to about $6.0 million, a decline of almost 99 per cent, after touching high points.

  • Higher market value approximately $6.0 million
  • The market value of the crash was about $600,000.
  • Internal associated wallets approximately 82.45% supply

The data on the chain then show a high concentration of the GoLD token supply. According to the data cited in the report, about 82.45 per cent of the total supply is held by internal wallets related to issuance.

15 new wallets sold through DEX

After falling prices, the market paid more attention to the route of sale. It was reported that 15 newly created wallets sold about 224.5 million GoLDs through the Centralized Exchange.

The total number of items sold was approximately 3178 SOLs, which amounted to approximately $330,000 of the same calibre. Coinpedia also mentioned that Eric Trump had previously warned that any unauthorized claim of a token relating to the Trump family should be considered a fraudulent project.

Additional information:GOLD is not an official TRUMP or MELANIA. Reports indicate that these projects are not structured in the same way as token release arrangements.