Key notes
- Me Token rose from $ 0.80 to $ 1.14, triggering a leap of 3,000% of the negotiation volume.
- The rally followed the news of a portfolio launch linked to Trump involving Magic Eden and Gettrumpmemes.com.
- Later, Trump family members denied any connection with the portfolio, arousing confusion.
The native token of Magic Eden jumped almost 32% at the end of the hours of June 3, climbing less than $ 0.80 to $ 1.14. This sharp increase in prices has led to 3,000% of the volume of 24 exchanges, reaching $ 468 million, according to CoinmarketCap.
This sudden price movement followed an announcement of Trump Wallet Crypto by the Wallet Trump website. He said Magic Eden joined Gettrumpmemes.com for the launch of “Official Wallet $ Trump by President Trump”.
With billions of Trump fans around the world, the $ Trump The mission has always been to facilitate that Trump supporters start to enter the crypto and join the $ Trump community.
THE $ Trump Portfolio fueled by @Magieden Arrives soon. Join the $ Trump community!… pic.twitter.com/7niubwidqw
– Trumpmeme (@GettrumpMeMes) June 3, 2025
In particular, GettrumpMes.com belongs to Fight Fight Fight LLC, a company jointly owned by CIC Digital LLC, a company affiliated with the Trump organization. This made the link with a credible high level partnership at first glance.
However, shortly after the announcement, Donald Trump Jr. publicly denied the participation of the Trump organization in the portfolio. He said he knew “nothing about this” and that the family crypto initiative, World Liberty Financial, would soon publish his own official portfolio.
The Trump organization has no involvement with this wallet product. @Erictrump And I don’t know about it. Stay listening – World Liberty Financial @WorldlibertyfiOn which we work tirelessly, will soon launch our official portfolio.
– Donald Trump Jr. (@donaldjtrumpjr) June 3, 2025
In addition, President’s second son Eric Trump warned Magic Eden of being “extremely careful” with the name of Trump. He also told the New York Times that the Trump family would have legal action against projects that use their names without approval.
This project is not authorized by @Asset. @Magieden I would be extremely careful using our name in a project that has not been approved and which is unknown to anyone in our organization.
– Eric Trump (@erictrump) June 3, 2025
Despite this, Magic Eden and the team of token $ Trump have not yet published a public statement clarifying confusion. In particular, X suspended the Trumpwalletapp account, even if it had before a verification badge.
Market manipulation problems arise
The contradictory stories have triggered immediate price volatility for the ME token. The cryptocurrency quickly retraced around 13% after the Trump family denied their involvement. At the time of writing the moment, the Me settled around the $ 1 bar, still up 19% during the last day.
Many members of the community have raised concerns about the potential manipulation of the market of me. The influencer of Crypto Follis noted the price oscillations that followed the big contradictory titles and describes the situation as part of the “criminal services season”.
Just in case you forgot that it is the season of crimes$ Me Pompeé + 40% on the news that he had established a partnership with Trump to launch a portfolio and trading application
Then threw -20% on the title that the news was false
I can’t do this shit lol pic.twitter.com/uv6li3htaa
– フ ォ リ (@follis_) June 3, 2025
Crypto researcher and criticism, Molly White, who first covered the controversy of the Trump portfolio, described the situation as “absolute chaos”.
Absolute chaos. After my scoop on the next launch of a Trump portfolio by Magic Eden, in cooperation with the $ Trump Memecoin team, Magic Eden has released his ad. Eric and Don Jr then repudiated the project, declaring that they had no prior knowledge. pic.twitter.com/exsr3jti4l
– Molly White (@ molly0xfff) June 3, 2025
Gro3 radar Also commented Regarding, noting the importance of transparent internal communication to ensure “external consistency and confidence”.
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Non-liability clause: Coinspeaker undertakes to provide impartial and transparent reports. This article aims to provide precise and timely information, but should not be considered as financial or investment advice. Since market conditions can change quickly, we encourage you to check the information for yourself and consult a professional before making decisions according to this content.
Cryptographic journalist with more than 5 years of experience in the industry, Parth has worked with the main media in the world of crypto and finance, the collection of experience and expertise in space after having survived bear markets and bulls over the years. STHTH is also an author of 4 self-published books.
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