DJT Token Soars 180 Following Unconfirmed Report of Trumps Participation
Former U.S. President Donald Trump is alleged to be the mastermind behind a cryptocurrency token called DJT, based on Solana, which saw a massive price surge of up to 180% following the unconfirmed report. According to Pirate Wires, Trump’s son, Barron, is said to be leading the project, but the claims have not been verified by the Trump campaign.
If the report is valid, this would be the first instance of a major political party’s presidential candidate creating a cryptocurrency. However, doubts about the legitimacy of the token are widespread.
Following the DJT token rumors, other PoliFi tokens associated with Trump, such as TRUMP and TREMP, experienced significant drops in value. Some supporters even suggested that the DJT token may be a “greedy psy op.”
Despite skepticism about the DJT token’s connection to Trump, it has seen a surge in trading activity and price. In just 24 hours, it recorded over $129 million in trading volume across more than 26,000 transactions.
The crypto community’s reaction to the report was largely skeptical, with some suggesting it could be a deceitful act, while others questioned its legitimacy. The market capitalization of the DJT token stood at $177 million at the time of the report.
Amidst the uncertainty surrounding the DJT token, there are growing concerns about the potential role of crypto in the upcoming U.S. presidential election, with Trump reportedly declaring himself as a “crypto president.” Meanwhile, current U.S. President Joe Biden is said to be preparing to attend a Bitcoin roundtable next month.
