World Liberty Financial (WLFI) has recently addressed rumors concerning the alleged development of a memecoin project tied to Donald Trump’s Truth Social platform. The organization plainly denied such claims, emphasizing that no token creation related to the platform is underway. WLFI urged the public not to believe these fraudulent Trump-themed initiatives. The company remained firm in its statement that it is the only decentralized finance enterprise genuinely connected to the Trump family.
What Did WLFI Announce About These Rumors?
Through social media platform X, WLFI confirmed they have no involvement with any memecoin or NFT marketplace projects allegedly affiliated with Truth Social. They advised the public to ignore circulating baseless claims. The company stressed its position as the sole legitimate crypto venture linked with the Trump family, urging investors to avoid fraudulent tokens marketing unauthentic connections.
Is the TRUMP Memecoin Facing Market Challenges?
The market experienced a significant drop for the “OFFICIAL Trump (TRUMP)” memecoin, which decreased by over 10% in just a day, settling at $12.65. Although the token had seen an impressive rise to $80 earlier this year, it has plunged by 85% since mid-April.
Recently, the TRUMP memecoin saw a 16% increase over the past week and a notable 46% rise in a month. Trading volumes doubled to $2.38 billion. Market experts cautioned about the ongoing price and volume fluctuations, stressing potential risks for uninformed investors.
Financial specialists highlight the significance of vigilance concerning projects lacking verification. The rapid spread of rumors on platforms like social media can lead to the promotion of dubious tokens, they note. Monitoring official statements and scrutinizing project documentation remains critical.
• TRUMP memecoin’s recent price remains at $12.65 after a sharp decline.
• Market cap fell to $2.53 billion.
• Despite the decline, weekly and monthly gains were observed.
• Trading volume reached $2.38 billion, doubled in the past day.
Comprising comprehensive insights, the organization’s statement clearly delineates WLFI’s official stance, mitigating possible misinformation spread. As the digital currency market continues fluctuating, staying informed through reliable resources and announcements becomes essential for potential investors. This ensures a level of security when navigating the crypto landscape amidst numerous false claims.
