PolitiFi tokens based on presidential candidates show up as ‘fake’ Trump token drops more than 90%

• Trump-themed “fake” token RTR plunged 90% after alleged insider wallets withdrew over $5 million worth of supply.
• PolitiFi meme coins themed after candidates Donald Trump and Kamala Harris rallied.
• Polymarket data shows Donald Trump leading the odds in the presidential race after a narrow tie with Kamala Harris.

Coins with political memes based on presidential candidates Donald Trump and Kamala Harris rallied on Thursday as Polymarket data showed stiff competition between supporters. Meanwhile, a recently launched token, RTR, themed after Donald Trump, has caught the attention of members of the crypto community after dropping more than 90%.

Kamala and Trump themed chips are growing in the middle of the RTR deposit

PolitiFi meme coins based on Republican and Democratic nominees Donald Trump and Kamala Harris rallied on Thursday as both parties saw their shares on prediction market Polymarket rise as the upcoming presidential election nears.

Kamala Horris (KAMA) and Super Trump (STRUMP) are up 48% and 21%, respectively. The surge in chip prices comes after Kamala Harris briefly tied Donald Trump in the Polymarket odds for the potential winner of the election. However, MAGA (TRUMP) is down nearly 9%.

Both nominees struggled on Polymarket, tied at 49 percent before Trump regained his lead at 50 percent. However, the Democratic nominee continues to see increased support from bettors as voters anticipate a possible debate between the candidates in September.

Meanwhile, RTR, another Trump-themed token, has caught the attention of the crypto community after an alleged rug-pulling following a dump from domestic wallets. The meme coin was created earlier today and funded by certain wallets with $882,000 worth of SOL, Lookonchain data shows.

After the token rose briefly, wallets quickly sold their holdings, shedding 92.77 million RTR for 31,994 SOL worth $5.05 million and making a profit of 26,414 SOL worth $4.17 million .

The RTR token had already raised $150 million before Donald Trump’s son Eric Trump, executive vice president of the Trump Organization, disassociated the former president’s campaign from meme coins. “Beware of fake tokens! The only official Trump project NOT announced! You’ll hear it here first,” wrote Eric on X.

RTR dropped over 90% following the announcement. IceBagz, the co-founder of Kanpai Pandas NFTs, is said to be behind the creation of RTR, JupiterSlorg wrote in an X post.