Rumored Trump coin Restore The Republic (RTR) instantly fell by 99% after former president Donald Trump's camp refuted having ties with the token

The Solana-based token was launched early Thursday. The market cap soared to more than $154 million on Dexscreener after Ryan Fournier, Chair of TrumpStudents

A Rumored Trump coin (RTR) nosedived by 99% after the former president’s camp refuted having any ties with the token.

Launched early Thursday, the Solana-based token skyrocketed to a market cap of over $154 million on Dexscreener. The surge was sparked by Ryan Fournier, Chair of TrumpStudents, who claimed in a now-deleted tweet to have gotten word that RestoretheRep was the official Trump coin.

? JUST IN: @TrumpStudents Chair @RyanAFournier reveals that the official Trump coin is already live on Solana.

pic.twitter.com/KGW05uKSQl

RTR’s price hit an all-time high of $0.1562, surging by 6173.09% from the opening price. But the price crashed immediately after Eric Trump, Executive Vice President of The Trump Organization, refuted the rumor that Trump was behind the token.

Eric stated that the rumors were “absolutely false,” and within an hour, RTR plummeted from a market cap of over $100 million to $8.3 million.

Following the RTR price crash, Fournier tweeted that he was told Donald Trump Jr. would be backing the token, and he personally invested in the token based on that belief.

“I was told by sources that Don Jr. would be backing this token. That is why I said rumor- I’m not a big crypto guy and I was not in any way involved in this project,” said Fournier. “I bought $350 of it this morning just because I believed what these guys were saying, as they are connected.”

Earlier this week, Trump’s camp announced an upcoming crypto/DeFi project. Eric confirmed that the official Trump crypto project had not yet been launched.

Friends: Beware of fake tokens! The only official Trump project has NOT been announced! You will hear it here first.

RTR’s fate seems to be mirroring that of another fake Donald Trump coin, TrumpCoin (DJT), which crashed by 98% earlier this week.

DJT surged in June on rumors of being an official token from Donald Trump, with the source citing some “conversations.” Later, Martin Shkreli (also known as Pharma Bro) came out to claim the token, stating that he co-created it with Barron Trump.

The liquidity for TrumpCoin was rugged on Tuesday, nuking the token. Shkreli claimed that Barron rugged the token, as he no longer has the keys to the token contract.

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