A memecoin named after Barron Trump rose to a $460 million market cap on unsubstantial rumors that it might have been launched by Barron Trump himself. When no evidence of this materialized, the token sank in price.
A relatively new X account called elonsfeed99 posted a link to the memecoin launchpad Pump.fun profile that launched the token, claiming it was Barron Trump's profile, and some other blockchain information. "Its (sic) clearly made by one of their friends, with deep pockets. I believe that friend can only be the elusive Barron Trump," they claimed.
For some reason, this worked, and the token spread across X with many accounts claiming that it might be genuine. This helped the token hit its peak market cap in just five hours.
The token peaked at $460 million market cap. Image: Pump.fun.
However, the profile had also launched a number of other unofficial memecoins claiming to be official memes, such as for Ronaldo, Johnnie Walker and Kai Trump.
The token was launched in the wake of Donald Trump and Melania Trump each launching their own memecoins over the last few days. While Donald Trump's memecoin reached a $13.5 billion market cap, the launch of Melania Trump's token ended up dropping his token's price in half.
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