World Liberty Financial (WLFI) issued a statement denying recent rumors about a new memecoin project allegedly associated with Donald Trump’s Truth Social platform. WLFI representatives clarified that no token development linked to the platform is underway, categorically refuting these claims. They emphasized that investors should not trust fraudulent Trump-themed projects. It was reiterated that WLFI is the only decentralized finance (DeFi) initiative directly associated with the Trump family.
Official Denial Message from WLFI
WLFI took to the social media platform X to confirm that they are not working on any memecoin or NFT marketplace projects linked to Truth Social. The organization stressed that the news circulating on social media is baseless, advising people to disregard such allegations.
The executives of WLFI pointed to their platform as the sole legitimate cryptocurrency project linked to the Trump family, stating that they have no knowledge of any other initiatives. They urged investors to steer clear of fake coin projects claiming connections to Trump, noting that tokens featuring the Trump logo are not intended as investments.
TRUMP Coin’s Price Movements and Trading Volume
The “OFFICIAL Trump (TRUMP)” memecoin has recently experienced a decline of over 10% within 24 hours, dropping to $12.65. Its market capitalization has also fallen, reaching $2.53 billion. Earlier this year, the token soared to $80 but has since plummeted by 85% since mid-April.
Despite this, TRUMP memecoin has increased by 16% over the last week and 46% over the past month. Its daily trading volume doubled, reaching $2.38 billion. Market participants emphasized the potential continuation of both price and volume fluctuations, which could pose risks for small investors lacking sufficient information.
Experts emphasize the need for caution regarding unverified projects. They warn that swiftly spreading rumors on social media could promote malicious tokens. They recommend tracking official announcements and reviewing the project’s technical documentation.
