A month-old Solana meme coin called DJT, or "Save America," popped on rumors of former President Trump launching an endorsed coin by the same name, with his son Barron Trump spearheading.
Behind the scenes: Crypto Twitter was lit, though the link, unsubstantiated.
Infamous pharma investor Martin Shkreli said it was real.
👆 Because the ticker of the meme coin is also the ticker of Trump Media & Technology Group Corp. and the former president's initials — references to coin are muddied.
Of note: "DJT" existed before the rumor, but it's unlikely that the Trump team launched it. So they could be planning to make a new one.
What we're watching: In less than 24 hours of the meme coin hubbub, it's already being panned as a scam.
Some person supposedly spent 2,500 SOL to buy DJT and sold it at a sizable loss — some $341K in under a minute.
