Trump Coin (TRUMP) is a hype-driven altcoin that emerged during the 2024 U.S. presidential election, with its core strategy being to pump the price based on election sentiment before crashing it to cash out. This token has no actual project backing, no regulatory issuance qualifications, and relies solely on the hype of being 'associated with political figures' for speculation.
During the election campaign phase, the project team heavily promoted the false logic that 'Trump's victory will drive up the token's value' through social media, combined with bot-driven trading to create a false impression of trading frenzy, attracting a large number of speculative retail investors. As the heat of the election topic rose, the token price was speculated to be dozens of times higher than the issuance price in a short period, completely igniting market sentiment.
On the night the token price reached its peak, the project team suddenly concentrated on selling off a large amount of tokens they had accumulated, while simultaneously removing all market maker orders, directly triggering a cliff-like collapse in the token price. Within just a few hours, the token price plummeted over 90%, and subsequently continued to decline towards zero.
According to market monitoring data, in this dumping incident, the project team cashed out over 10 million dollars, while the retail investors who bought in at high prices were almost left with nothing. This case has also become a typical template of 'hype speculation + pump and dump' in the crypto space, exposing the chaos of the altcoin market taking advantage of hot topics to harvest retail investors.
During the election campaign phase, the project team heavily promoted the false logic that 'Trump's victory will drive up the token's value' through social media, combined with bot-driven trading to create a false impression of trading frenzy, attracting a large number of speculative retail investors. As the heat of the election topic rose, the token price was speculated to be dozens of times higher than the issuance price in a short period, completely igniting market sentiment.
On the night the token price reached its peak, the project team suddenly concentrated on selling off a large amount of tokens they had accumulated, while simultaneously removing all market maker orders, directly triggering a cliff-like collapse in the token price. Within just a few hours, the token price plummeted over 90%, and subsequently continued to decline towards zero.
According to market monitoring data, in this dumping incident, the project team cashed out over 10 million dollars, while the retail investors who bought in at high prices were almost left with nothing. This case has also become a typical template of 'hype speculation + pump and dump' in the crypto space, exposing the chaos of the altcoin market taking advantage of hot topics to harvest retail investors.
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