According to blockchain data, a new Solana token named Eric Trump shot up 6,200% in just 24 hours. It sprang to life on May 16 via the Pump.fun launchpad and swelled to a market cap of 140 million. Traders piled in fast, but on‑chain detectives noticed more than 80% of the supply parked in just 10 wallets. That kind of concentration often signals a setup for a sudden collapse. Related Reading: Analysis: Crypto Heats Up As $35 Billion Enters Market In Under A Month Political Name Exploitation Using a well‑known figure’s name can be a quick way to grab attention. Based on reports from Bubblemaps, the token’s ties to “jv7d” on Solana raised red flags. When insiders hold most of the coins, they can dump them at will. Retail investors end up holding what’s left—and that often means heavy losses. a rug in the making#ERICTRUMP is currently trending on most platforms. avoid it. pic.twitter.com/g1KE7wKMCA — Bubblemaps (@bubblemaps) May 16, 2025 Warning Signs On-Chain Cluster analysis showed the top 250 holders are linked through a handful ..
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