3 min read 
Several Trump family-themed fake meme coins have entered the market, such as $BARRON, which faced a rugpull after surging to over $400million in market cap.
After US President Donald Trump and First Lady Melania Trump launched their individual meme coins, several fake meme coins named after the rest of the family members are flooding the market.
Both TRUMP and MELANIA meme coins recorded billions in market cap over the weekend, taking the crypto market by storm. Although both meme coins have questionable tokenomics, with over 80% of the supply locked for the creators, they are still real and endorsed by Donald Trump himself.
However, scammers are now creating new tokens named after the Trump family and potentially planning a rug pull.
BARRON meme coin scam
Earlier today, a token named after Trump’s youngest son launched on Solana. According to DEXScrenner data, BARRON reached over $400m in market cap in a few hours before crashing over 100%.
Several users noted that it was a rug pull, as the largest wallet holders sold their tokens consecutively, crash-crashing the meme coin. One particular user reported losing $1m because of the sudden fall.
It’s important to note that regardless of the questionable tokenomics of Trump and Melania’s meme coins, they were still endorsed by the official accounts and, more importantly, by the president himself. Although users initially suspected the X (Twitter) accounts to be hacked, Trump also endorsed both meme coins from his other social media platform Truth Social.
However, no other tokens, such as BARRON have been endorsed by any Trump-affiliated accounts. So, clearly, these meme coins are a scam and rug pull.
BARRON is not the only Trump family-linked scam token out there. Several scammers are looking to utilize this hype ahead of today’s inauguration. CoinMarketCap shows that another fake meme coin named after Ivanka Trump surged over 2,000% today.
It’s critical that users do not invest in these tokens as they will be rugpulled once the fraudulent developers decide to liquidate all the assets.
Which Trump Coin is next?
After the OFFICIAL TRUMP and MELANIA meme coins, the big question is whether the new US President or his family launch another token. Unfortunately, there’s no way to assess this probability. Both Trump and Melania’s tokens were launched without any prior marketing or campaigns, which is highly unusual for the meme coin market.
From a legal perspective, once Donald Trump officially takes the presidential oath, he cannot take any actions that would financially benefit him or his family. Therefore, any such token launches could become unconstitutional after today. Yet, there are many legal loopholes surrounding the current US crypto market. So, the possibility of further Trump family tokens cannot be ruled out.
In any case, users must remain cautious and vigilant. Scammers are actively leveraging the current trend.
Overall, meme coins are extremely volatile, and users should not invest any amount that they aren’t prepared to lose.
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