ERICTRUMP Meme Coin Soars to $140 Million Market Cap Before Plummeting 99% Amid Rekt Alerts

Unrelated to Donald Trump’s son Eric Trump, the meme coin ERICTRUMP skyrocketed by 6200% within a day after its launch on the Pump.fun platform. Before the token’s value plummeted by 99%, its market capitalization exceeded $140 million, according to CoinMarketCap.

Around the time the price began to drop, analysts from Bubblemaps issued warnings of signs indicating an impending rug pull.

Their analysis revealed that over 250 of the largest holders of the token are tied to 10 major wallets.

The creator of ERICTRUMP had previously issued three other tokens using the Trump name, as reported by Cointelegraph, citing a Bubblemaps researcher. All of these also failed on Pump.fun.

It’s worth noting that in May, Solidus Labs reported that 98.6% of meme coins launched on Pump.fun are associated with fraudulent rug pull schemes and Pump & Dump practices.