- With the release of Restore the Republic token, the hunt for the actual Trump memecoin continues.
In less than seven days following the release of the most recent “official” Donald Trump memecoin, cryptocurrency Twitter pushed and dumped a different token that was purportedly associated with the outgoing president.
Launched this morning, Restore the Republic token, symbol $RTR, surged to a $155 million valuation, more than 100 times its initial price.
Soon after its debut, Ryan Fournier, a chair of Students for Trump, posted that he was “hearing” that RTR was the “official trump coin.” Eric Trump, the son of Donald Trump, addressed these reports.
A connection between the coin and the Republican presidential candidate was theorized by traders when Eric Trump stated in an Aug. 6 X post, “I have truly fallen in love with Crypto / DeFi.” A significant announcement is coming up.
Social media was rife with rumors that resembled the debut of the $DJT token. Two hours after the debut, Fournier tweeted something that has since been removed.
The creator of the now-discontinued DJT token, Martin Shkreli, also added his thoughts to the discussion. As far as I can recall, BT was concerned that RTR would launch before DJT.
Similar to many tokens supported by celebrities, market players quickly raise questions about the legitimacy and provenance of the initiative.
The business behind the Kanpai Pandas NFT brand, Kanpai Labs, is in charge of issuing the coin, according to a story published earlier this morning by Velodata News. According to the magazine, Kanpai Labs is the organization behind the RTR token’s funding and promotion, according to Google records.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
