On-chain analyst Lookonchain flagged a new Solana memecoin called $GOLD on August 29 after the X account @realtrumpcoins1, which is followed by the U.S. President Donald Trump, promoted “Trump Digital Gold.”
The now-deleted promotional post featured imagery of a gold coin bearing President Donald Trump’s likeness in front of the White House and directed users to realtrumpcoins.com. The account is known for selling official Trump-related collectible coins and medals and has been described as a partner of The Trump Organization.
Lookonchain highlighted several warning signs immediately after launch. The developer wallets collectively held 600 million $GOLD tokens. Fifteen newly created wallets spent just $18,657 to acquire 224.5 million tokens. Combined, the team controlled 82.45% of the total supply.
High Concentration and Instant Dump
The token briefly attracted buyers. Market data from DEXScreener showed the market cap rising sharply to $62 million around early hours of August 29 before collapsing more than 95% in an hour, leaving it valued at roughly $800K. One trader who bought at the peak lost $62,100 in seven minutes.
Lookonchain later reported that the same 15 newly created wallets sold their entire 224.5 million $GOLD holdings for 3,178 SOL, worth about $330,000. The sale generated an estimated $312,000 profit, or a 17-times return on the original $18,657 outlay. The team still retained a large remaining position, keeping supply highly concentrated.
Deleted Posts and Hacking Claims
Within minutes of Lookonchain’s first alert, @realtrumpcoins1 deleted its $GOLD promotional posts. A follow-up message from the account claiming it was “handling the situation” was also removed. Subsequent posts from the same handle claimed the launch had generated more than $8.2 million in profits from “low-IQ Trump supporters” and that the proceeds would be added to a bounty targeting relatives of the president, including Barron Trump.
Reports described the account as compromised, with some sources attributing the activity to Iranian hackers. Those claims remain unverified.
As of now, the episode has no proven connection to the official U.S. Mint $1 commemorative coin featuring Trump’s image that Treasury officials announced earlier in 2026 for America’s 250th anniversary. That physical coin is a government product; $GOLD was an unofficial memecoin launched on Solana.
The rapid sequence—from launch, to on-chain concentration alert, to price collapse, post deletion, and alleged account takeover—illustrates the speed and risk of tokens that lean on political branding without clear official backing.
Also read: Solana Neobank Avici Hacked: Attacker Spends $190 to Drain $500K From 1,685 Users
