A $55 million market capitalization evaporated to $1 million in just 30 seconds. The Trump Digital Gold (GOLD) token on the Solana network crashed 99% from its peak, just hours after launching on August 29, 2026.
A massive insider sell-off triggered the price collapse. Lookonchain analytics revealed that the developer held 600 million GOLD from the initial launch. Beyond that initial allocation, 15 new wallets linked to the token’s creator spent $18,657 to scoop up an additional 224.5 million tokens. These purchases gave the launch team control over 82.45% of the total circulating GOLD supply.
As soon as the project’s valuation touched a peak of $66 million, wallets affiliated with the team simultaneously dumped their coins onto the open market.
Deleted Promotional Traces
According to tracking by on-chain analyst EmberCN, a cluster of wallets tied to the core GOLD team offloaded their entire positions two hours before promotional traces were wiped from the internet. The team netted 9,784.6 SOL, or roughly $1.01 million, from the unilateral sale. Lookonchain estimates the team’s net profit reached $312,000, representing a 17-fold return on their initial capital.
Promotions for the GOLD token briefly appeared on the X account @realtrumpcoins1, which is followed directly by Donald Trump’s official account. The marketing posts were swiftly deleted once the token’s price collapsed, locking in losses for retail buyers. Solana community member Fabiano.sol suspected that the Real Trump Coins account had been compromised by a third party. An X user named TITAN even claimed Iranian hackers were behind the fake launch, while EmberCN analysts firmly characterized the GOLD incident as a scam.
Not the First Coin to Claim Victims
GOLD is distinct from the Official Trump (TRUMP) project, which launched in January 2025 and was promoted directly via Trump’s own verified account. At the time of writing, the website RealTrumpCoins.com remains operational, actively promoting GOLD to the public. The page touts a promised 4% trading fee discount, alongside claims that 99% of fees would be used to buy back tokens from the market to support price stability.
This string of asset crashes adds to a growing list of controversies surrounding crypto projects bearing Trump’s name. Previously, the official TRUMP token had already plunged 98% from its all-time high. The collapse in TRUMP’s price prompted a US Senator to call on the Securities and Exchange Commission (SEC) to launch an investigation. According to Nansen data, investors suffered steep losses: 988,905 out of 1.48 million TRUMP buyer wallets logged total realized losses of $3.81 billion.
Source: crypto.news.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
