According to blockchain data, a new Solana token called Eric Trump has increased by 6,200% in just 24 hours. It quickly lived through a pump launch plate on May 16 and expanded to a market capitalization of $140 million. Traders quickly piled up, but chain detectives found that only 10 wallets parked in more than 80%. This concentration usually marks a sudden crash setting.
Political name development
Using the well-known character’s name can be a quick way to attract attention. According to Bubblemaps, the token is linked to the “JV7D” of the red flag raised by Solana. When insiders hold most of the coins, they can throw them away as they please. Retail investors end up holding what’s left, which usually means huge losses.
carpet#ERICTRUMP Currently popular on most platforms. avoid. pic.twitter.com/g1ke7wkmca
– Bubble (@bubblemaps) May 16, 2025
Warning signal on the chain
Cluster analysis shows that the top 250 holders are linked through a few addresses. This pattern reflects the wolf token, the wolf’s symbol hit 42 million and then almost nothing. Analysts say these moves are suitable for classic carpet scripts, with early supporters making money on the top of the hill and then disappearing.
Imitation token multiply
The same wallet, known as “BJTM”, has launched three other Eric Trump tokens that were sent out quickly. According to CoinMarketCap data, more than 736 imitation tokens have been pushed into the official Trump wallet space. Of these, 192 use Trump’s last name, and 67 claim to be “official”. Even Elon Musk’s name surfaced in at least 35 of them.
Global political goals
Scammers didn’t stop with our numbers. In April, verified British MP Lucy Powell’s X account was hijacked to promote fake Solana tokens. It scored her 70,000 followers and won only 225, but it showed how a trustworthy badge could deceive people.
Investor warning light
Based on this model, analysts urge caution. This is a signal to back off when the token’s value spikes without a clear lining (most coins sit in several wallets). Blind loyalty to the names of politics or other means can turn into economic pain.
What will happen next
As more and more political memes pop up, the risk will increase. Every high-profile name can be a bait. Investors should check who holds the token, pay attention to the quick launch on cheap networks like Solana, and remember that hype can go away as quickly as possible.
In a space where hype often outweighs the fundamentals, staying alert may be the best way to make ends meet.
Featured images from Unsplash, charts for TradingView
