Donald Trump’s prospects of winning the 2024 election have risen, with the prediction market Polymarket reporting his odds at 66% as of July 2, 2024. Meanwhile, a wager worth 4 million indicates that incumbent President Joe Biden’s chances stand at 18%. Trump Favored Over Biden in 2024 Election According to Prediction Markets The Polygon-powered prediction […]
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Donald Trump’s VP Contenders: A Look at Polymarket Odds and Favorites
With the 2024 election set for November, there’s growing curiosity about whom former President Donald Trump will select as his vice-presidential candidate. Currently, the decentralized prediction market Polymarket is featuring bets on a wide array of potential candidates, with this weekend showing a mystery candidate and Republican Senator J.D. Vance of Ohio as the frontrunners. […]
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Messari Founder Ryan Selkis Accuses Martin Shkreli of Working Covertly to Hurt Trump’s Campaign Through DJT
Ryan Selkis, founder and CEO of Messari, a cryptocurrency market intelligence firm, has called out “Pharma Bro” Martin Shkreli for supposedly acting with federal agencies to hurt Donald Trump’s campaign. Shkreli, allegedly the creator of DJT, disregarded this notion, calling out Selkis for “watching too many movies.” Messari’s Ryan Selkis Accuses Martin Shkreli of Organizing […]
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Arkham Offers a $150,000 Bounty for the Identity of Alleged Donald Trump’s DJT Token Creator
Arkham, a cryptocurrency analytics platform, has put a bounty of 100,000 ARKM, valued at 0,000, for information leading to the reveal of the creator of DJT, a Solana token linked to the former President and current Republican presidential candidate Donald Trump. While the token was issued with Trump’s involvement according to sources, there has not […]
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Trump-Inspired Memecoins Crash 30% After Rumors Of Trump’s Official Token Launch
The crypto industry has been a crucial topic in the electoral campaign for the November US presidential elections. This year, presidential candidates have embraced cryptocurrencies to obtain the industry’s support. As a result, the community has capitalized on the momentum with Memecoins.
PolitiFi tokens, a new memecoin category inspired by political figures, have performed remarkably this Q2. Trump-inspired tokens have been the talk of the town after the Republican candidate started endorsing cryptocurrencies. However, these memecoins have suffered a massive 30% drop in the last 24 hours.
An Official DJT Token?
On Monday, Pirate Wires’ X account announced the launch of an alleged official ‘Trump Coin.’ According to the report, the token is supposedly led by Trump’s 18-year-old son, Barron Trump. “Per conversations, Trump is Launching an official token – $DJT on Solana, Barron spearheading,” read the post.
Mike Solana, CMO at Founders Fund and editor-in-chief at Pirates Wires, shared a smart contract address seemingly linked to the token. Additionally, he stated he was “just reporting” on what he knew “via sources” and that he “didn’t speak with Trump directly.”
Similarly, Martin Shkreli claimed the DJT token is real on an X Space. He later maintained his position, highlighting the “confirmation” from a friend of Barron Trump. In a post, the 17-year-old stated, “$DJT IS THE ONLY REAL TRUMP TOKEN.”
However, the crypto community remains skeptical about the authenticity of the memecoin. Several users highlighted various red flags surrounding the “official” token, including the DJT’s X Account.
A user pointed out that the official X account has a “strange” following list. This list includes the controversial figure Andrew Tate, American streamer Adin Ross, and Shkreli.
Moreover, crypto analytics firm Bubblemaps revealed that 67% of the token’s supply was in one cluster. Raydium Concentrated Liquidity is the largest holding, accounting for 43% of the supply.
Many community members expressed their concerns with humor. Some users suggested that serial scammer Sahil Arora, responsible for several celebrity memecoins rugs, orchestrated the token launch. Others wondered if the inconsistencies of the launch made it “more or less likely” that it was a business venture from the Trump family.
At the time of writing, no official sources have confirmed Trump’s involvement with the DJT token.
Trump Memecoins Plummet
Over a month ago, the former US president declared he was “fine” with cryptocurrencies and wanted to make it a “solid” industry with clear regulations. At the time, Trump-inspired memecoins soared over 63% following his declarations. Additionally, the PolitiFi sector surged, with tokens like BODEN increasing by nearly 30%.
Nonetheless, the story is different this time as the rumors of an official Trump token negatively impacted the performance of the memecoins. The PolitFi tokens report a 30% decline in the last 24 hours, with a market capitalization of .03 billion.
Trump-related tokens took the biggest hit in the sector. Many dropped between 20% and 30% on the last day. MAGA (TRUMP), the largest token related to the former US president, saw its price decline by nearly 50% in four hours.
Following the “Trump coin” rumors, TRUMP dropped from the .8 to the .6 price range before recovering below the mark. As of this writing, the token is trading at .94, a 38.7% retrace in the past 24 hours.
Similarly, Trump Mania (TMANIA), Super Trump (STRUMP), and Doland Tremp (TREMP) have suffered a 35.2%, 20%, 37.6% price decline.
Polymarket Bets Show Growing Confidence in Trump’s Election Victory Over Biden
Ten days ago, after former President Donald Trump was convicted on 34 counts connected to a hush-money scheme, Polymarket bets indicated his chances of winning the 2024 election still stood at 54%, compared to incumbent President Joe Biden’s 40%. Since that time, the gap between Trump and Biden has widened significantly, with Polymarket odds increasingly […]
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Meme Coin TROG Boosts Donald Trump’s Crypto Holdings to $31M
After less than a week, the 45th U.S. President Donald Trump has seen his cryptocurrency portfolio double in value. As the 2024 presidential candidate, he now holds .23 million in assets, thanks to a wave of donations. Trump’s Crypto Portfolio Doubles Donald Trump’s crypto wallet has grown significantly over the past five days, and data […]
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Donald Trump’s Crypto Portfolio Tops $14M Post-Conviction — Meme Coin Holdings Soar, Says Arkham
Former U.S. President and presidential candidate Donald Trump’s crypto portfolio now exceeds million, according to Arkham Intelligence’s onchain tracking tool. His crypto holdings include a significant amount of meme coins, which were airdropped to him by various developers. Trump has been convicted of 34 felony counts related to falsifying business records, marking the first […]
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Conviction Fails to Deter Donald Trump’s 2024 Election Odds, According to Polymarket Bets
Following the landmark news of former President Donald Trump’s conviction on 34 counts related to a hush-money scheme allegedly influencing the 2016 election, data from the Polygon-powered prediction market Polymarket shows Trump still leading in forecast bets for the 2024 election. Convicted But Leading: Trump Tops 2024 Election Predictions on Polymarket According to Polymarket, Donald […]
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Donald Trump’s Crypto Holdings Top $10 Million, Arkham Says
Former U.S. President and presidential candidate Donald Trump’s cryptocurrency holdings reached million on Monday morning, according to crypto analytics firm Arkham’s onchain tool. The bulk of Trump’s holdings, .3 million, is in the TRUMP coin. Trump has pledged to support the crypto industry, promising to halt President Joe Biden’s anti-crypto initiatives and protect bitcoin. […]
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