{"id":27141,"date":"2025-05-16T13:18:37","date_gmt":"2025-05-16T13:18:37","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=27141"},"modified":"2025-05-16T13:18:37","modified_gmt":"2025-05-16T13:18:37","slug":"fake-eric-trump-themed-token-is-rug-in-the-making-says-bubblemaps","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=27141","title":{"rendered":"Fake Eric Trump-themed token is \u2018rug in the making,\u2019 says Bubblemaps"},"content":{"rendered":"
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\"Fake<\/p>\n

A fake Eric Trump-themed memecoin launched on Solana\u2019s memecoin launchpad Pump.fun, rose more than 6,200% in the past 24 hours, raising red flags among blockchain analysts who warned of a potential rug pull.<\/p>\n

A newly-created Eric Trump (ERICTRUMP) memecoin with the token address \u201cjv7d\u201d surpassed $140 million in market capitalization within a day since its launch on May 16, CoinMarketCap data<\/a> shows.<\/p>\n

\"Fake
ERICTRUMP\/USD, all-time chart. Source: CoinMarketCap\u00a0<\/em><\/figcaption><\/figure>\n

The memecoin\u2019s distribution raises significant red flags that point to a rug pull<\/a> \u201cin the making,\u201d warned blockchain data platform Bubblemaps in a May 16 X post<\/a>.<\/p>\n

\"Cryptocurrencies,
Source: <\/em>Bubblemaps<\/em><\/a><\/figcaption><\/figure>\n

A rug pull typically refers to the sudden removal of liquidity or mass sell-off by token insiders, often resulting in a steep price collapse that leaves retail holders with worthless tokens. <\/p>\n

Looking at Bubblemaps\u2019 token clusters for the 250 largest holders, the majority of these tokens are held across 10 token clusters, founded by 10 main crypto addresses.<\/p>\n

Related: <\/strong><\/em>Coinbase faces $400M bill after insider phishing attack<\/strong><\/em><\/a><\/p>\n

The token\u2019s ownership pattern is reminiscent of recent memecoin collapses, including the Wolf of Wall Street-inspired WOLF token<\/a>, created by Hayden Davis, the co-creator of the Official Melania Meme (MELANIA)<\/a> and the Libra token.<\/p>\n

\"Fake
Source: <\/em>Bubblemaps<\/em><\/a>
<\/figcaption><\/figure>\n

Over 82% of the WOLF token\u2019s supply was held by the same entity, which led to a 99% price crash after the token peaked at a $42 million market capitalization.<\/p>\n

Related: <\/strong><\/em>Ukraine strategic Bitcoin reserve bill reportedly in final stages<\/strong><\/em><\/a><\/p>\n

Eric Trump token deployer created four scam tokens<\/h2>\n

The deployer behind the fake Eric Trump token also created three other Eric Trump tokens that failed on Pump.fun,\u201d a Bubblemaps investigator told Cointelegraph.<\/p>\n

\"Fake
Fake Eric Trump tokens created by the same deployer: Source: <\/em>Solscan<\/em><\/a>, Bubblemaps<\/em><\/figcaption><\/figure>\n

Blockchain data shared by the firm shows that these tokens were all created around the same time by the Solana blockchain address \u201cBjTm.\u201d<\/p>\n

Industry watchers have been increasingly vigilant about rug pulls since the meltdown of the Libra (LIBRA) token, endorsed by Argentine President Javier Milei, which saw eight insider wallets cash out $107 million in liquidity<\/a>, leading to a $4 billion market cap wipeout within hours.<\/p>\n