A meme coin named after Eric Trump has caused a stir online after soaring in value before crashing dramatically.
The token, which surged nearly 8500% in a single day, was not launched or endorsed by Trump himself, yet that didn’t stop speculators from piling in. Now, analysts say the entire event may have been a setup.
While Eric Trump was speaking at a major crypto conference, an unknown developer released the coin bearing his name. The timing, combined with online buzz, triggered a buying frenzy—but it didn’t last. Within hours, the coin’s value collapsed, wiping out nearly all of its market cap.
Blockchain analysts quickly flagged suspicious activity. According to Bubblemaps, most of the token supply was controlled by a small cluster of wallets—an indicator often seen in price manipulation schemes. Their investigation revealed the same creator had released multiple similar tokens before, all of which failed.
With the price now virtually zero and trading volumes evaporating, experts are urging caution. The absence of any real endorsement, combined with unusual on-chain behavior, has led many to believe this was a coordinated pump-and-dump. For now, the Eric Trump coin joins a growing list of meme tokens that burned hot—and then burned investors.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/eric-trump-meme-coin-crashes-after-hype-fueled-surge/