CryptoTRUMP meme coin pumps, then dumps after fake utility...

TRUMP meme coin pumps, then dumps after fake utility news

-


Key Takeaways

  • The TRUMP meme coin price surged 19% before falling due to fake utility news spreading on X.
  • DB’s compromised account spread false reports, leading to confusion and price volatility.

Share this article

The TRUMP meme coin saw a sudden 19% surge before plummeting after false reports circulated that it would have real-world utility.

The digital asset jumped from $10.4 to $12.4 after DB, a prominent crypto news outlet, posted on X that the TRUMP token would “have real utility” on Thursday.

The surge was short-lived as a follow-up post appeared approximately seven minutes later claiming the account had been compromised. The TRUMP token price fell to $10.8 following the statement.

Initially, it was uncertain whether hackers or DB posted the second tweet. Ansem and others in the crypto community observed a grammatical error in the tweet, suggesting the security breach had yet to be resolved.

Some X users reported that DB’s account also shared fake news that BlackRock had filed for a spot HYPE ETF.

DB has since removed the unauthorized posts and issued a statement asking users to disregard messages posted during the security breach.

The news outlet confirmed an investigation is in progress and will provide updates when available.

Share this article



Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

Ethereum Closes on $2,800 in 7% Gain But Resistance Remains 

Ethereum has made a rare move north today, adding 7% in under 24 hours to reach $2,787 during...

John Karony trial starts with a confused witness and SafeMoon merch

The trial of former SafeMoon CEO John Karony saw testimony from a victim who lost $20K and a...

Imagen Network (IMAGE) Launches RLUSD-Based Components for Stable AI-Powered Social Transactions

Integration of Ripple's RLUSD stablecoin enhances transaction stability and consumer entry throughout decentralized social instruments. July 10, 2025 1:00 AM...

Advertisement

Akave Cloud Launches Decentralized Data Layer on Avalanche L1

Akave has launched a decentralized storage network called Akave Cloud on a dedicated Avalanche Layer 1 blockchain. This...

GMX crypto price outlook after team explains $40m hack

The GMX crypto token nosedived on...

Must read

Ethereum Closes on $2,800 in 7% Gain But Resistance Remains 

Ethereum has made a rare move north today,...

John Karony trial starts with a confused witness and SafeMoon merch

The trial of former SafeMoon CEO John Karony...

You might also likeRELATED
Recommended to you