Blockchain data shows that a new Solana token named Eric Trump rose 6,200% in just 24 hours. It was brought to life via Pump.fun Launchpad on May 16th, surged to a market capitalization of 140 million. Traders were stacked at high speed, but detectives on the chain noticed that over 80% of the supply was parked in just 10 wallets. Such concentrations often indicate a setup for sudden disintegration.
Exploitation of political names
Using the names of well-known people is an easy way to attract attention. Based on a report from Bubblemaps, Token’s Solana relationship with “JV7D” raised a red flag. Once the insider holds most of the coins, he is free to throw them away. Retail investors will retain what remains. It often means a big loss.
Making rug#erictrump It’s trending on most platforms now. Avoid that. pic.twitter.com/g1ke7wkmca
– Bubblemaps (@bubblemaps) May 16, 2025
Warning sign on chain
Cluster analysis showed that the top 250 holders were linked via a small number of addresses. That pattern reflects wolves’ tokens, with little to nothing since reaching 42 million. Analysts say these moves fit the classic Lag Palscript and disappear after early supporters cashed out at peak.
Copycat tokens multiply
The same wallet, known as the “BJTM,” has launched three other Eric Trump tokens that had already rushed over quickly. Based on CoinMarketCap data, over 736 mimicking tokens have been pushed into the official card wallet space. Of those, 192 use Trump’s surname, and 67 claim to be “official.” Even Elon Musk’s name appears in at least 35 people.
Global political targets
Scammers aren’t stopped at our numbers. In April, the UK’s MP Lucy Powell’s verified X account was hijacked to promote fake Solana tokens. It took advantage of her 70,000 followers to net only 225 people, but showed that trustworthy badges were cheating on people.
Investor warning light
Based on this pattern, analysts will be warned. When the value of the token spikes without a clear backing and most coins are sitting in some wallets, it is a signal to retreat. Blind loyalty to political or other names can turn into economic pain.
What’s coming next
The more political meme coins pop up, the more risks it gets. All high profile names can be bait. Investors should check who holds the token, monitor rapid launches on cheap networks like Solana, and keep in mind that it can disappear so quickly that the hype appears.
In a space where hype often outweighs the foundations, maintaining alerts may be the best way to come to mind.
Unsplash featured images, TradingView charts
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