Memecoin trading is suddenly Trump.fun

TRUMP.FUN – Former President Donald Trump’s speech just a few weeks ago at The Nashville Bitcoin Conference now it seems like a distant memory. Not only has he been overtaken by Vice President Kamala Harris as the front-runner in this year’s US presidential election — at least in the eyes of bettors on the prediction site Polymarket – but his name and family members are now regularly pulled up in conversations about memecoins. It started last week when one of his sons, Eric Trump, he posted on Twitter that he “fell in love with Crypto / DeFi. Stay tuned for a big announcement,” as CoinDesk’s Krisztian Sandor reports. Then on Thursday, a newly launched cryptocurrency on Solana (SOIL) called Restore the Republic or RTR, rumored to be Donald Trump’s official symbol, began trading, reaching a market capitalization of $155 million within hours of its launch. Eric Trump then warned users about “fake tokens” and said “the only official Trump project has not been announced.” RTR dropped by 95%. his brother Donald Trump Jr.tweeted that while he likes “how much the crypto community is embracing Trump,” traders should “beware of fake tokens claiming to be part of the Trump project.” Then there was the former president’s Spaces session on Monday with X owner Elon Musk, during which the pair notably he didn’t even mention Bitcoin or crypto. According to The Block, the the omission caused prices to fall for tokens with names like MAGA Hat and Doland Tremp. Crypto news site Decrypt reported that some 10,000 tokens have been released during Spaces on the meme coin launchpad Pump.fun, where the issuance fee was $2 completely removed earlier this week – making it much easier and cheaper to launch a token. Based on an account posted on Xafter Trump uttered the phrase “tough people” about five times in a row, there were at least 10 distinct memecoins released under the name “STAR PEOPLE”. Some memecoin traders complained that using Pump.fun was “it’s not fun anymore“because they were”10,000 scams.” But for at least one commentator, watching the action was close like a news feed: “I don’t even need to stare into space when it’s pump fun.”