BlockBeats News, August 29th, according to GMGN market data, the Solana-based Meme coin Trump Digital Gold was launched this morning. Within two hours of its launch, the market cap surged to over $60 million, then plummeted to $10 million. At the time of writing, the market cap has rebounded to $36 million.

The Meme coin is narrativeized as "Trump Digital Gold," claiming to be a crypto project launched by the Trump Foundation. It combines the narrative of gold value with blockchain concepts. More details have yet to be announced. The actual relationship between the project and Trump and his related organizations is still to be further confirmed. Community discussions are polarized:

Some early players and pump-and-dump accounts embrace the "Trump IP + Digital Gold" narrative, suggesting it has FOMO potential and encouraging attention. However, more voices question its authenticity, directly calling it LARP, a fake coin, or a marketing stunt using IP. They warn that a website/link appearing to be associated does not equate to official confirmation. They reference Eric Trump's previous statement that "nobody is launching coins, otherwise it's a scam" and urge to wait for clear endorsement before taking action. The Chinese community and various multilingual communities generally remind everyone to "not blindly follow FOMO" and to "wait for confirmation before considering."

BlockBeats reminds users that Meme coin market fluctuations are significant and most have no practical use case. Please avoid FOMO.