• HelixDab2@lemm.ee
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    7 days ago

    This is a clear and obvious pump-and-dump. Anyone that falls for this deserves to be fleeced.

  • MothmanDelorian@lemmy.world
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    6 days ago

    This is not a rugpull but a readjustment. The purpose of this coin and Melania’s coin is to get around laws preventing foreign sources from donating to or bribing Trump.

    • rayyy@lemmy.world
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      6 days ago

      Well yes and no. It’s a way for foreign countries to launder their bribes. They “buy” the coins knowing he will get the money. The quasi-rug-pull part is him extracting the laundered money. Everyone, except his shit-head followers, understands this.

      • MothmanDelorian@lemmy.world
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        6 days ago

        I suspect this coin might not be a complete rugpull though. I suspect the rugpull cones at the end if his term or when he dies whichever comes first.

  • phughes@lemmy.ca
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    6 days ago

    The first I heard of Trump’s memecoin was a headline declaring it was worth $25 Billion. I’m a pretty online person, so I tend to hear about these things pretty quickly. The article said it was worth $9 billion in 12 hours.

    $9 billion is an unimaginable amount of money for any number of people to decide to “invest” in under 12 hours. The only way I can explain that happening is if many, very wealthy people, had been notified about the coin going up for sale ahead of time and wanted to curry favor with Trump.

    What a fucking embarrassment this country is.

    • futatorius@lemm.ee
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      6 days ago

      People have not actually put $9 bn into it. The value is crudely extrapolated from price and volume, but there’s nothing actually there.

      • phughes@lemmy.ca
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        6 days ago

        I guess that makes sense. So if they only sell 1 coin out of 1 million and they sell it for $100 then they can walk around saying the lot of coins as a whole are worth $100 million? (obviously a simplified example)

    • CharlesDarwin@lemmy.world
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      6 days ago

      I’m not even sure which exchange(s) it is on? I wonder if it’s almost entirely about laundering money and almost none of the peasant redhats put money into it.

  • CharlesDarwin@lemmy.world
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    6 days ago

    This is the Rug Pull Administration, after all. Might as well kick it off with really, really big and obvious grift.

  • Wispy2891@lemmy.world
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    7 days ago

    “Let me tell you, folks, this, what we’re seeing right now, it’s HUGE, okay? I mean, some people are saying—and I don’t know, but they’re saying—it could be the biggest rugpull in the history of rugpulls. Tremendous potential. Absolutely tremendous. Nobody’s ever seen a rugpull like this before, believe me.”

    • futatorius@lemm.ee
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      6 days ago

      Unless and until he is stopped. I wonder if anyone is trying to take down the exchange?

  • Destide@feddit.uk
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    5 days ago

    On closer inspection the rug has been made with a row of pulleys which were attached to f350’s rolling coal. So you can understand the suprise.

  • grue@lemmy.world
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    7 days ago

    Jimmy Carter sold his fucking peanut farm, and now this is the point we’re at.