Trump-Linked Truth Social Denies Memecoin Launch Amid Market Speculation

Truth Social, the social media platform owned by TRUMP Media & Technology Group, has categorically denied rumors of launching a memecoin. The official Truth Social account stated, "Contrary to rumors, Truth Social is not launching a memecoin." Donald Trump Jr. reinforced this message on X, dismissing the claims as baseless and cautioning users against misinformation.

Despite the denial, the TRUMP token remains a focal point in the crypto market, held in over 220 wallets with a collective valuation of approximately $174 million. The token has experienced significant price volatility, underscoring the speculative nature of politically linked digital assets.

In a related development, former President Donald Trump is set to host a gala dinner NEAR Washington, D.C., on May 22, exclusively for the top 220 TRUMP token holders. The event highlights the intersection of politics and cryptocurrency, a trend gaining traction as digital assets permeate mainstream finance.