Is the Truth Social Meme Coin Real? Trump Denies Rumours

As cryptocurrency markets continue to attract mainstream attention, rumors and speculation often travel faster than facts. This week, online chatter claimed that Truth Social, the social media platform owned by Trump Media, was preparing to launch its own meme coin. 

The claims sparked wide interest in crypto circles, but the company has firmly denied any such plans. Now, both the platform and members of the Trump family are working to set the record straight.

Truth Social Denies Meme Coin Rumors

The speculation began when Ran Neuner, a well-known crypto influencer and host of the Crypto Banter podcast, posted on social media that a “Truth Social token” would be released within 72 hours. 

According to his post, the project would be supported by the same team that was behind the TRUMP token. The tweet quickly caught the attention of the crypto community and led to questions about whether a new Truth Social meme coin was about to enter the market.

However, Truth Social responded directly to the claims, stating, “Contrary to rumors, Truth Social is not launching a meme coin.” 

The official message was posted on its platform and echoed by Donald Trump Jr., who emphasized, “There’s no truth whatsoever about Truth Social launching a meme coin. Don’t be fooled by false information people are circulating.”

Read also: Who is the Mysterious Whale Holder? Looking at TRUMP Holders

Donald Trump and the Crypto Spotlight

While the meme coin rumor was denied, it is not surprising that the idea caught fire. Donald Trump, the majority owner of Trump Media, is no stranger to the cryptocurrency world. 

He previously launched a token named TRUMP, and his wife, Melania Trump, also released a cryptocurrency called MELANIA. 

These projects have kept the former U.S. president in the spotlight of the crypto community, often stirring debate about the role of high-profile figures in digital asset promotion.

Trump recently made headlines again when he announced that top holders of the TRUMP token would receive exclusive invitations to a gala dinner scheduled for May 22. 

This move drew criticism from some political figures, including senators who have previously expressed concern over Trump’s involvement in cryptocurrency initiatives.

Read also: Will the TRUMP Coin Create Conflicts of Interest? Understanding Politics

Lawmakers and the TRUMP Token Controversy

As the date of the gala approaches, questions continue to arise about the TRUMP token’s largest holders. A report from Bloomberg noted that many top token holders may not be based in the United States, raising additional concerns from lawmakers. 

Currently, over 220 wallets hold more than 13.7 million TRUMP tokens, valued at around $174 million at the time of reporting.

Interestingly, some wallet names associated with the token include “Sun” and “elon,” possibly referencing Tron founder Justin Sun and Tesla CEO Elon Musk, both known supporters of Trump. These associations, however, remain speculative.

Despite being down more than 80 percent from its all-time high of $73.43 in January, the TRUMP token has seen recent gains. It has risen nearly 14 percent in the past week and is trading at approximately $12.52, according to data from CoinGecko.

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Frequently Asked Questions (FAQ)

Q: What exactly is truth social? 

A: Truth Social is a social media service that promotes free speech and allows users to block unwanted content. It only removes content that breaks its rules.

Q: Who is the owner of Truth Social? 

A: Truth Social is run by Trump Media & Technology Group Corp. (TMTG), which is mostly owned by Donald Trump.

Q: Is truth social free? 

A: Yes, Truth Social is a free app designed to be easy to use, similar to Twitter.