Ah, the sweet smell of rumors, and they’re wafting over Truth Social once again. After whispers circulated that the social media platform owned by Trump Media & Technology Group was about to launch a shiny new memecoin, Truth Social was quick to clear the air.
“Contrary to rumors, Truth Social is not launching a memecoin,” the platform stated, probably while shaking its digital head. Donald Trump Jr., clearly not in the mood for speculation, also chimed in on X, saying:
There’s no truth whatsoever about Truth Social launching a memecoin. Don’t be fooled by false information people are circulating. https://t.co/rbmcoT1tB3 pic.twitter.com/VDOEd8cqGr
— Donald Trump Jr. (@DonaldJTrumpJr) May 12, 2025
So, there you have it, folks, no memecoin for you. Not today.
The Rumors That Got Everyone Excited (But Not Really)
The memecoin frenzy started when influencer Ran Neuner, host of Crypto Banter, tweeted that Truth Social would launch a token in the next 72 hours because, why not, right? He even hinted that it might be backed by the same team behind the infamous TRUMP token. Naturally, the crypto world went wild, with people speculating, tweeting, and buying imaginary bags of memecoin.
Trump, Memecoins, and a Gala Dinner: What Could Go Wrong?
Trump isn’t exactly a stranger to the world of memecoins. He’s got his own TRUMP token, and Melania Trump even launched a MELANIA token. So, no surprise there. But here’s the kicker: after announcing that the top TRUMP token holders would be invited to a special gala dinner on May 22, people weren’t exactly impressed.
Many critics, including some U.S. senators who have nothing better to do, called for Trump to be impeached over this whole token thing. Yes, launching a memecoin is now a matter of national security. And just when things couldn’t get more dramatic, a Bloomberg report revealed that most of the top holders of the TRUMP token might not even be from the U.S. This caused even more concern from lawmakers who were probably hoping for a more traditional way to waste tax dollars.
At its peak, the TRUMP token was worth a flashy $73.43 back in January, but it’s taken quite the tumble since then, down over 80%. However, it’s recently bounced back, gaining nearly 14% in the last week, and is now trading at a modest $12.52. Apparently, even a memecoin named after a former president has its highs and lows.
In any case, Truth Social may not be launching a memecoin, but the Trump crypto saga is far from over. Stay tuned for the next twist in the token drama!
Abimbola Adu
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