Trump-Themed GOLD Token Crashes 95% Amid Rug Pull Claims

Highlights:

• Trump Digital Gold surged above $60 million before crashing after RealTrumpCoins deleted posts promoting the meme coin.
• Lookonchain found that the developer and 15 new wallets controlled more than 82% of GOLD’s total supply.
• GOLD fell more than 95% as heavy selling, deleted posts, and possible account hacking raised concerns.

A Solana meme coin called Trump Digital Gold (GOLD) crashed soon after the RealTrumpCoins X account promoted it. The token first surged to a market value of more than $60 million. However, the rally quickly lost momentum. Traders started selling heavily after the account deleted its promotional posts.

The incident unfolded on August 29. Lookonchain first reported that @realtrumpcoins1, an account followed by U.S. President Donald Trump, had promoted the new GOLD token. The account is connected to a business selling officially licensed Trump-themed gold and silver medallions. However, its website states that those products are not manufactured, distributed, or sold by The Trump Organization or its affiliates.

realtrumpcoins(@realtrumpcoins1), which is followed by @realDonaldTrump, has launched a token called $GOLD.

Notably, the developer holds 600M $GOLD, and 15 newly created wallets spent $18,657 to buy 224.5M $GOLD.

The team currently controls 82.45% of the total supply.

Be… pic.twitter.com/7ZU8bfndzk

— Lookonchain (@lookonchain) August 29, 2026

Large GOLD Holdings Raise Concerns

Soon after GOLD started trading, Lookonchain found that a small number of wallets controlled most of the token supply. According to the on-chain tracker, the developer held around 600 million GOLD tokens. At the same time, 15 newly created wallets spent about $18,657 to buy another 224.5 million GOLD. Together, the developer and those wallets controlled about 82.45% of the total supply.

Update:
realtrumpcoins (@realtrumpcoins1) has deleted posts related to $GOLD. pic.twitter.com/2gXfBYnDvI

— Lookonchain (@lookonchain) August 29, 2026

Such heavy concentration can create major risks for traders. A few large holders can quickly push the price down if they decide to sell. Soon after, the 15 wallets did exactly that. Lookonchain said the wallets sold all 224.5 million GOLD tokens for 3,178 SOL, worth around $330,000. The tracker estimated that they made around $312,000 in profit. That gave them roughly 17 times their original investment. Lookonchain called the event a rug pull.

RealTrumpCoins Deletes GOLD Posts

The situation became more suspicious after the RealTrumpCoins account deleted its GOLD-related posts. The account also posted a short message saying it was “handling the situation,” but it later deleted that post as well. The removals quickly raised claims that someone may have hacked the account and used it to promote GOLD.

Lookonchain later shared claims that Iranian hackers may have controlled the account during the incident. However, no independent source has confirmed who took control of the account. Other reports also claimed that the people behind the incident made more than $8.2 million. That figure also remains unconfirmed. So far, there is no clear evidence that Donald Trump, his family, or The Trump Organization launched or approved the GOLD token.

GOLD Token Falls More Than 95% After Sudden Rally

The uncertainty quickly hit the GOLD price. The token’s market value climbed above $60 million during the early rally. Soon after, it crashed by more than 95% in about one minute, according to Lookonchain. Its market value dropped to around $1.8 million.

Lookonchain also warned traders not to rush into the token after one buyer reportedly lost $62,100 within seven minutes. DEX Screener data later showed GOLD trading near $0.000866, with a market value of around $866,000 and liquidity close to $121,000.

The sharp drop shows how quickly meme coin prices can change when liquidity is low, and a large share of the supply sits in a few wallets. With early holders already selling and questions still surrounding the token’s promotion, GOLD could continue to face strong price swings.