It's a terribly bad rug pull and I think this looks horrible for Trump to be involved in something like this where he's obviously profiting.
Anyone else have a better explanation of this that makes more sense?
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Unfortunately I ran out of room...
Between the pokemon stuff and the ENTIRE beanie baby collection (they're gonna be worth something someday!!!) - These have been carefully stored in the basement. They're only a little damp - toilet overflowed... so only slightly musty... they're still good tho!!! No, mice? Those are Afghani caraway seeds - also quite rare - notice how they don't have the distinctive lines running longitudinally down the seed - I can see how the uneducated might think they're mouse turds, but nope! Yep ... gonna be worth something... some...day...
I made Alot of money off it so far
How is it a rugpull? It went up like five million times and hasn't gone back down anywhere near where it started.
It is not a rug pull. Rug pulls go to zero in 3 seconds flat. This is normal price action for anything that has high volume and attention. It is however something that I wish did not exist.
scam
$32.50? Seems like the rug is still in the room and being walked on.
I tip my hat to anyone who makes money on the shitcoins but I prefer to invest in the most beloved shitcoin platform itself: Solana. Buy some $SOL, stake it, let folks use it to speculate on shitcoins.
The fact that so many shitcoins have been spun up on Solana says a lot as to its cost, accessibility, durability, etc. A good platform will tolerate people abusing it like this.
The price action is not a surprise. Whole lot of hype, and then reality sets in. Just because the name Trump is in it, isn't going to make it valuable.
My understanding is also that this is a project by Baron, not POTUS.
And don't forget the Melania coin, exact same pattern.
Crypto has no intrinsic value, it is only worth what somebody is willing to pay for it.
Look at the start of dogecoin in 2021, it had the same pattern. Back in December, 3.5 years later it finally made the same high, and has been in a downward trend again since.
How could it be the same pattern? Melania never went anywhere because of Solana network fuckups. It's possible that at $2.60 right now Melania is the most profitable coin in the world to get into.
Look at the hourly chart, it went down a little then spiked up and then dumped. Exact same pattern.
Are you aware most people were unable to buy because the solana network couldn't handle the unprecedented traffic? Trump only went "down" (still up over 100x) after the Melania release. All the Trump holders were trying to buy Melania and it smoked the whole system.
...don't forget to pick up a "Trump Watch" while you are browsing...
I didn't buy it,for this very reason.
Everything is only worth what someone else will pay for it.
It was a signal to the Elizabeth Warrens of the world.
Good luck banning crypto when the President himself is engaged in them.
They obviously saw a hawk Tua girls issues and how it appeared. I have to imagine they’re smart enough to foresee this and expect this situation to be different. I think signing an executive order that attempts to establish America as a leader in cryptocurrencies will have the effect of legitimizing and bolstering these markets at the end of the day people buy lottery tickets people buy expensive cups of coffee people buy all sorts of virtual crap if somebody wants to buy a virtual Trump coin that’s up to them
Just had a thought and I know less than nothing about shitcoins, but wouldn't creating one and then creating an EO to establish" them be a lil conflict of interest?. Sounds as bad in my brain to all of their insider trading. As I said, I don't know. Was just a thought.
IMHO it doesn't mean much one way or the other. I liken it to the NFT he did a few years back. Some people made some quick cash off of it and now it's faded into the memory hole.
The headline is misleading .. it's not a rug pull, sitting steady at $30+
Also, they will be be releasing more coins every 4 months and such.
DJT would never rug pull, that's a political suicide. Do you think they're idiots or something and if so, how did we get this far with such lack of faith?