Truth Socile, a social media network owned by Trump Media, has denied launching Memecoin after rumors on social media.
“Contrary to rumors, True Social has not launched Memocoin,” the official social account of the truth posted on the platform. The social media platform is owned by Trump Media Technology Group, with US President Donald Trump owning a majority stake in the company.
“There is absolutely no truth to the truth behind launching Mimecoin. Don’t be fooled by the misinformation people are circulating,” said Donald Trump Jr., the eldest son of President Donald Trump, about X.
After influencers ran Neuner, rumors began to circulate. Crypto-joke The podcast tweeted that the Truth Social Token will be released within the next 72 hours and appears to be supported by a similar team involved in launching the Trump Token.
Cointelegraph contacted Neuner to find out more about the source of the bill, but did not receive a response by the time of publication.
Trump is not a stranger to memo coins and encryption
The US President is known for his procrypted attitude, and launched his own Trump token, with first lady Melania Trump launching the Melania Token.
However, Trump found himself in the controversy after he announced that Trump Token’s top token holders would be invited to a special gala dinner on May 22nd.
The move has sparked criticism from many people, including many US senators. He had previously requested that Trump be fired each to launch a card token.
Related: Minor American Bitcoin linked to Trump will be published via Griffon Merger
Meanwhile, the Bloomberg report showed that the majority of Trump Token top holders are not from the US and may be causing concern from US lawmakers.
According to the latest data, the 220 wallets carry over 13.7 million card tokens, and are worth around $174 million at the time of publication.
It is unclear who the top holder is, but the wallet with the names “Sun” and “Eron” appears to refer to Tron founder Justin Sun and Tesla CEO Elon Musk. Both are Trump supporters.
The Trump token has fallen more than 80% after hitting an all-time high of $73.43 on January 19th. However, tokens have grown nearly 14% over the past seven days and are currently trading at $12.52.
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