Solana meme coin GOLD surges then drops, market cap now $36M

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The Solana-based meme coin GOLD surged on August 29, reaching a $60 million market cap within two hours before falling to $10 million. It has since recovered to $36 million. The token claims backing from the Trump Foundation, though no verified connection to Donald Trump exists. Community opinions are divided, with some investors attracted to the “Trump IP + digital gold” narrative and others dismissing it as hype. Eric Trump has warned against tokens falsely claiming his endorsement. This movement positions GOLD as one of the altcoins to watch in the volatile digital asset market.

ChainThink reports that, according to GMGN market data, the Solana-based meme coin Trump Digital Gold (GOLD) launched this morning on August 29. Its market cap surged to over $60 million within two hours, then plummeted to $10 million, and as of press time, has recovered to $36 million.

The token is marketed under the narrative of "Trump Digital Gold" and claims to be launched by the Trump Foundation, though specific details have not yet been disclosed. Its actual affiliation with Trump and related entities remains unconfirmed.

The community is divided, with some users embracing the narrative of "Trump IP + digital gold," while many others question its authenticity, labeling it as LARP or an IP-driven炒作.

Eric Trump previously stated, "No one is issuing coins, or it's fraud," urging users to wait for clear endorsement.

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