#Memecoins__

ERICTRUMP meme coin market cap hits $140 million before plunging 99%.

The ERICTRUMP meme coin, which has no connection to US President Eric Trump's son, has seen its market cap soar 6,200% in a day since its launch on the Pump.fun platform. The token's market cap topped $140 million before its price crashed 99%, according to CoinMarketCap.

Around the time the price started to fall, Bubblemaps analysts warned of signs of an impending ragpool.

According to their data, more than 250 of the token's largest holders are linked to 10 major wallets.

The creator of ERICTRUMP previously issued three other tokens using Trump's name, one of Bubblemaps' researchers told Cointelegraph. All of them failed on Pump.fun.