{"id":129399,"date":"2025-05-16T13:17:09","date_gmt":"2025-05-16T13:17:09","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=129399"},"modified":"2025-05-16T13:17:09","modified_gmt":"2025-05-16T13:17:09","slug":"fake-eric-trump-themed-token-is-rug-in-the-making-says-bubblemaps","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=129399","title":{"rendered":"Fake Eric Trump-themed token is \u2018rug in the making,\u2019 says Bubblemaps"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsA 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.<br \/>\nA 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 shows.<br \/>\nERICTRUMP\/USD, all-time chart. Source: CoinMarketCap\u00a0The memecoin\u2019s distribution raises significant red flags that point to a rug pull \u201cin the making,\u201d warned blockchain data platform Bubblemaps in a May 16 X post.<br \/>\nSource: BubblemapsA 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.<br \/>\nLooking 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.<br \/>\nRelated: Coinbase faces $400M bill after insider phishing attack<br \/>\nThe token\u2019s ownership pattern is reminiscent of recent memecoin collapses, including the Wolf of Wall Street-inspired WOLF token, created by Hayden Davis, the co-creator of the Official Melania Meme (MELANIA) and the Libra token.<br \/>\nSource: BubblemapsOver 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.<br \/>\nRelated: Ukraine strategic Bitcoin reserve bill reportedly in final stages<br \/>\nEric Trump token deployer created four scam tokens<br \/>\nThe 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.<br \/>\nFake Eric Trump tokens created by the same deployer: Source: Solscan, BubblemapsBlockchain data shared by the firm shows that these tokens were all created around the same time by the Solana blockchain address \u201cBjTm.\u201d<br \/>\nIndustry 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, leading to a $4 billion market cap wipeout within hours.<br \/>\nMagazine: Crypto wanted to overthrow banks, now it\u2019s becoming them in stablecoin fight<a href=\"https:\/\/cointelegraph.com\/news\/eric-trump-fake-token-rug-in-making-blockchain-data-firm?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsA 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&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129399"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=129399"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129399\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=129399"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=129399"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=129399"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}