Eric Trump Meme Coin Collapses Amid Scam Allegations from Analysts
Highlights
- An Eric Trump-themed meme coin surged 8,500% before crashing amid scam allegations.
- Eric Frederick Trump has not officially launched any coin at press time.
- Blockchain analytics platform Bubblemaps flagged the token as a potential rug, citing suspicious activity.
An Eric Trump named meme coin is trending on social media and the crypto market, but the red flags present the possibility of a scam. Although the Official Trump and Official Melania meme coins were also regarded with the scam allegation due to alleged insider trading, the case is different here. Why? Let’s discuss.
Eric Trump Never Launched ERICTRUMP Meme Coin
In contrast to Donald Trump and First Lady, Eric Frederick Trump has not officially confirmed any meme coin launch. The third child of the US President is an American businessman and is also present in CoinDesk’s Consensus 2025, which is on its final day of events.
Meanwhile, he is involved in the crypto event. An anonymous developer has launched a meme-themed coin in his name, which has gone viral. Without an official confirmation, people jumped on the opportunity, as they witnessed a nearly 8500% rally in 24 hours, but it all came crashing.
Interestingly, this is not the only token based on the US President’s son, Eric. Many more are also trading in the market, with poor performance.
Eric Trump Coin Price Collapsed Amid Bubblemaps Scam Allegations
Bubblemaps, a prominent chain analytics platform, has called this a “potential rug pull scam in making,” citing an image of its network activity. According to the Bubblemaps post, there are several red flags in this trending meme coin, including a smaller number of wallets holding most tokens and multiple connected clusters.
Such a structure indicates the possibility of Eric Trump coin price manipulation and a potential rug pull scam. And the 99% price crash further confirms such allegation, as the token trades at $0.00001974 with a market cap of just $19.66k per CoinMarketCap.
Bubblemaps investigator also highlighted that the same developer launched three more tokens based on Frederick Trump, but they failed on Pump.fun.
Another crypto analyst highlighted that there are only developer wallets in the transaction history, where buying is less and selling is more. Experts have advised investors to monitor the trending meme coin further and ignore it instead of jumping into any trade.
Frequently Asked Questions (FAQs)
1. Is the Eric Trump meme coin legitimate?
2. Is ERICTRUMP coin a scam?
3. How is this meme coin trading now?
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