BlockBeats News, August 29th, according to GMGN market data, the Solana-based Meme coin Trump Digital Gold (GOLD) saw its market cap plummet over 95% in 1 minute, and is currently valued at $1.8 million.

This Meme coin, with the narrative of "Trump Digital Gold," was launched by @realtrumpcoins1. This account is dedicated to promoting and selling official collectible coins/medals related to Trump and is an official partner of The Trump Organization. As more details have yet to be revealed, the community widely questions the authenticity of this Meme coin, suspecting the Twitter account may have been compromised. As of now, the related tweets are still posted on the realtrumpcoins account and have received nearly 400,000 views.

Community members are reminded that the association of this project with certain websites/links does not confirm its legitimacy. They also reference Eric Trump's previous statement that "no one is launching a coin, otherwise, it's a scam," urging to wait for a clear endorsement before taking any action. The Chinese community and various language groups universally remind others to "not blindly FOMO" and to "wait for confirmation before considering."

BlockBeats reminds users that Meme coin prices are highly volatile and mostly lack practical use cases, so beware of FOMO.