A fake Eric Trump themed Memecoin was launched at the Memecoin Launchpad Pump.fun, rose more than 6,200% in the past 24 hours, raising red flags to blockchain analysts that warned a potential pulling rug.
A newly created Eric Trump (Erictrump) Memecoin with token address “JV7D” Data Shut up.
Memecoin distribution raises significant red flags that point In a rug pull “In making,” Blockchain Data Platform Bubblemaps warned on a May 16 x Post.
A rug pull usually refers to the sudden removal of liquidity or sale of the masses of the token insider, which often results in a steep price collapse leaving retail holders with worthless tokens.
Looking at the bubblemaps token clusters for the 250 largest holders, most of these tokens were held throughout 10 clusters of token, established by 10 major crypto addresses.
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The token’s pattern -owned pattern is reminiscent of the recent memecoin collapse, including the Wolf of Wall Street-inspired Wolf tokencreated by Hayden Davis, the co-creating of Official Melania Meme (Melania) and the Libra token.
More than 82% of the wolf token supply is held by the same creature, which led to a 99% price crash after the token sank to a $ 42 million market capitalization of the market.
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Eric Trump token Deployer created four scam tokens
The deployer behind the fake Eric Trump token also created three other Eric Trump tokens that failed at Pump.Fun, “a bubblemaps investigator in the cointelegraph.
Blockchain data shared by the firm show that these tokens were created around the same time as the Solana blockchain “BJTM” address time.
Industry observers have become increasingly cautious about rug pulling since the melting of the Libra token (LIBRA) Cash out $ 107 million in liquidityleading to a $ 4 billion market cap wipeout in a few hours.
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