Trump-themed memecoin GOLD scammers dump entire holdings for $1M profit

A scam group behind the Trump-themed memecoin Trump Digital Gold (GOLD) sold its entire GOLD holdings, booking a profit of 9,784.6 SOL ($1.01 million), according to AmberCN. GOLD was issued on Solana today, and the scam group accumulated 824.54 million tokens, or 82.454% of the total supply, through a pre-allocation and post-launch purchases. The memecoin briefly saw its market capitalization surge to $66 million after it was promoted through the X account @realtrumpcoins1, an official partner of the Trump Organization that sells related collectible coins and medals. After the post was deleted, GOLD's market capitalization collapsed to $1 million from $55 million in just 30 seconds.