Eric Trump's currency rises by 6,200%.. A new scam on the Solana network?

As Eric Trump (Eric Trump - ERIC TRUMP) becomes the most famous currency in the world of meme coins, the significance of this story lies not in the collapse of this specific currency, but in how prominent political names exploit the combination of speculation in cryptocurrencies and political tribalism, where blind loyalty to public figures is turned into a self-destructive financial weapon.

Key points:

Owning just ten crypto wallets holds more than 80% of the supply of Eric Trump (ERIC TRUMP), indicating a significant risk of insider manipulation.

The wallet behind this currency has previously launched several failed currencies inspired by Eric Trump.

Analysts urge extreme caution as evidence points to a potential organized scam, which is common in recent pump-and-dump schemes of meme coins built on the Solana blockchain.

The price of the meme coin bearing the name of the son of American President Eric Trump (ERICTRUMP) surged by over 6,200% yesterday, prompting blockchain data analysts to issue warnings about the possibility of it being a rug pull. To remind, this currency was launched on May 16th via the meme coin launch platform Pump.fun associated with Solana, and it bore the name “Eric Trump” (ERICTRUMP) and is linked to the address “jv7d” on the blockchain with a market value exceeding 140 million.