Trump Token Mania: Over 6,000% Pump Or Classic Solana Trap?
According to blockchain data, a new Solana token named Eric Trump shot up 6,200% in just 24 hours. It sprang to life on May 16 via the Pump.fun launchpad and swelled to a market cap of 140 million. Traders piled in fast, but onchain detectives noticed more than 80% of the supply parked in just 10 wallets. That kind of concentration often signals a setup for a sudden collapse.
Political Name Exploitation
Using a wellknown figures name can be a quick way to grab attention. Based on reports from Bubblemaps, the tokens ties to jv7d on Solana raised red flags. When insiders hold most of the coins, they can dump them at will. Retail investors end up holding whats leftand that often means heavy losses.
a rug in the making#ERICTRUMP is currently trending on most platforms. avoid it. pic.twitter.com/g1KE7wKMCA
Bubblemaps (@bubblemaps) May 16, 2025
Warning Signs On-Chain
Cluster analysis showed the top 250 holders are linked through a handful of addresses. That pattern mirrors the WOLF token, which hit 42 million before plunging to almost nothing. Analysts say these moves fit the classic rugpull script, where early backers cash out at the peak, then vanish.
Copycat Tokens MultiplyThe same wallet, known as BjTm, has already launched three other Eric Trump tokens that fizzled quickly. Based on CoinMarketCap data, more than 736 imitation tokens have been pushed into the official Trump wallet space. Of those, 192 use Trump family names, and 67 claim to be official. Even Elon Musks name crops up in at least 35 of them.
Global Political TargetsScammers arent stopping with US figures. In April, the verified X account of UK MP Lucy Powell was hijacked to promote a fake Solana token. It tapped into her 70,000 followers and netted just 225, but it showed how a trusted badge can fool people.
Investor Warning LightsBased on this pattern, analysts urge caution. When a tokens value spikes without clear backingand most coins sit in a few walletsthats a signal to step back. Blind loyalty to a name, political or otherwise, can turn into financial pain.
What Comes NextAs more political meme coins pop up, the risk grows. Every highprofile name could become bait. Investors should check who holds the tokens, watch for rapid launches on cheap networks like Solana, and keep in mind that hype can vanish as fast as it appears.
In a space where hype often trumps fundamentals, staying alert might be the best way to stay afloat.
Featured image from Unsplash, chart from TradingView
Read more: https://www.newsbtc.com/altcoin/trump-token-mania-over-6000-pump-or-classic-solana-trap/
Text source: NewsBTC
