Trump Second Son Meme Coin, Rug Pull Signs... Distribution Structure Abnormal Signs

Despite various controversies, Eric Trump is continuously expanding the cryptocurrency business (Source: Politico)

The internet meme coin ERICTRUMP, issued by Eric Trump, the second son of Donald Trump, President of the United States, surged by 6,200% in a day after being launched on the Solana-based platform Pump.fun, raising concerns over a Rug Pull.

According to Cointelegraph, the blockchain data platform Bubblemaps analyzed that "The current distribution structure of the Eric Trump meme coin shows a critical abnormal sign that is very similar to the rug pull pattern."

In particular, as a result of confirming the token cluster of the top 250 holding addresses, it was found that most of the volume is concentrated in just 10 wallet addresses. This is interpreted as a structure that increases the possibility of market manipulation by concentrating an excessive amount on specific minority wallets.

Experts advised that this form is a typical feature of a rug pull, urging investors to be cautious. A rug pull is a representative cryptocurrency fraud tactic where project developers attract investment funds and then suddenly disappear or drain liquidity, causing investors to suffer significant losses.

Despite the rapid price surge of ERICTRUMP, warnings have emerged that if the instability of the distribution structure and the concentration on minority addresses continue, investment risk may further increase.