Allegations that a certain altcoin is the official token of Donald Trump have caused a surge in its price. The token, known as DJT, saw a dramatic increase in value after rumors circulated that the former US President was backing it. This news has had a ripple effect on other policy-themed tokens, with many experiencing a significant drop in value.
DJT is a cryptocurrency that was launched on the Solana blockchain just two months ago. Its price skyrocketed by 180% in response to the unconfirmed reports linking it to Trump. If proven true, this would mark the first time a major political figure has created their own cryptocurrency.
The initial reports came from Pirate Wires, a media outlet known for its critical coverage of San Francisco Bay Area politicians and its enthusiasm for technology. The news was shared on Organization X, with claims that Trump was launching an official token on Solana and that his son Barron was leading the project.
Following these developments, other tokens linked to political figures, such as the Trump token and the Joe Biden-themed Boden token, experienced a significant decline in value. Mike Solana, who initially reported the news, clarified that he had not spoken directly to Trump and that the claims could be false. He emphasized that he was sharing information from his sources.
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