The meme coin DJT, issued on the Solana blockchain, surged over 3,000% on Monday due to an unconfirmed report. Pirate Wires, a media outlet specializing in technology and politics, stated on Monday that US presidential candidate Donald Trump is the mastermind behind the DJT token. If this report is true, it would be the first cryptocurrency created by a major party’s presidential candidate in history.
Pirate Wires posted on X (formerly Twitter) that Trump is launching an official token – DJT, based on Solana. Trump’s son Barron is reportedly “leading” this project. However, Pirate Wires’ editor-in-chief Mike Solana clarified that he did not speak directly with Trump, but reported based on information from sources.
Trump’s campaign team has not responded to this matter, and as of now, Trump himself has not mentioned any news about the token on the platform.
Members of the cryptocurrency community generally view this report with skepticism. Blockchain data company Bubblemaps believes that the DJT token is unlikely to be directly related to Trump. The company points out that about 67% of the supply is located in a cluster, with 43% of the total supply on Solana’s automated market maker Raydium.
The recent downturn in the market has also led to a correction in the previously thriving political finance (PoliFi) meme coins, including PEOPLE, MAGA, BODEN, etc., which have seen significant declines over the past week.