Is Trump Launching a Meme Coin? Mysterious New Token ‘DJT’ Sends Crypto World Into Frenzy

cryptonews.com:

The US Presidential Election is continuing to shake up the PoliFi meme coin sector, and in the latest pump, a new token called DJT—supposedly backed by Donald Trump himself—has become one of the most controversial gainers in recent times.

This article will provide an analysis of DJI’s current price trends and look to see whether a viral GameFi token, PlayDoge, represents a more promising investment opportunity at this time.

With the DJT token exploding dramatically last night amid wholesale rumors that Donald Trump is behind the project, major figures in the retail investor space, including Martin Shkreli, have been quick to take a position on the new PoliFi meme coin.

100 million

if you don't have 100 million, as much as you're willing to bet

— GCR (@GiganticRebirth) June 18, 2024

The controversial investor has moved to back the project, and consequently has fallen under hot criticism from big names in Crypto Twitter – with the likes of Alex Wice and GCR offering Shkreli huge bets over the genuineness of the project.

As it stands, it appears Shkreli may have risen to the challenge, putting his money where his mouth is as he claims the token is genuinely Donald Trump-backed.

Still standing strong as the #1 Hot Coin on DEXTools, DJT crypto is currently trading at a market price of $0.0121 (representing a 24-hour change of -57%).

This comes as the price undertakes a major correction after firing up a dramatic +650% Yesterday, in a dramatic resurgence from rock-bottom price action – that saw an all-time high established at $0.039.

Now, plummeting down to a more fair pricing, volatility remains high, as 10.5k DJT token holders sit tight in an attempt to consolidate above $0.01 support.

If this level remains successfully defended, then