Trump-Themed 'Restore The Republic' Coin Plummets 95% After Eric Trump Confirms It Is Not The 'Official' Coin
Portfolio Pulse from Murtuza Merchant
The newly launched cryptocurrency 'Restore the Republic' (RTR) on the Solana blockchain saw its value plummet by 95% after Eric Trump confirmed it is not an official Trump coin. The token initially surged to a $155 million market cap before the sharp decline. The incident highlights the risky nature of the memecoin market.
August 09, 2024 | 11:24 am
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NEGATIVE IMPACT
The value of the 'Restore the Republic' (RTR) token on the Solana blockchain plummeted by 95% after Eric Trump confirmed it is not an official Trump coin. This incident may affect the perception and trading volume of Solana (SOL).
The sharp decline in RTR's value, a token on the Solana blockchain, could negatively impact the perception and trading volume of Solana (SOL). The incident highlights the risks associated with tokens on the Solana network.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80