The Trump crypto memecoin on Solana has taken a beating over the past three months. Today, the market was rocked by reports claiming that Trump and his team were launching a new crypto wallet, only for the Trump family to deny any involvement hours later. Let’s find out what happened.
🚨 TRENCH ALERT: @MagicEden is allegedly the one building the $TRUMP wallet.$ME initially pumped 37% on the news, but is now retracing after @EricTrump says he knows nothing about the project. pic.twitter.com/Z4vEScVcHz
— Trench Talk (@TrenchTalkDaily) June 3, 2025
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Is Trump Crypto Team Launching a New Wallet?
The announcement dropped on an X account and was later confirmed by their supposed partner, Magic Eden, a popular NFT-focused platform. Following that, the supposedly official site went live, letting users sign up for a waitlist to access the wallet. This would be a big move for Trump Coin, as it is just a meme coin.
The site promised over a million in $TRUMP coins as rewards. A promo is all about getting users to join the wallet waitlist. At this time, the rewards are worth over $12 million. Another campaign is a sweepstakes, which runs until July 4. Anyone who refers a friend to sign up enters a raffle to win $100,000 in TRUMP tokens; only one winner will be chosen at the end of the period.
Moreover, this move follows the Trump dinner, which was Trump’s first official step toward pushing his coin after its launch. Given that Magic Eden is such a popular and renowned platform, this news blew up fast and was everywhere.
However, later, Eric and Trump Jr. posted that the Trump family has zero involvement with whatever Magic Eden is doing. This resulted in the supposed Trump wallet X account getting suspended by Twitter quickly. On the other hand, the Trump memecoin’s official X account supported the wallet launch with this post.
With Billions of Trump fans around the world, the $TRUMP mission has always been to make it super easy for Trump supporters to get into crypto and join the $TRUMP community.
The $TRUMP Wallet powered by @magiceden is coming soon. Join the $TRUMP community!… pic.twitter.com/7nIubWIdqw
— TrumpMeme (@GetTrumpMemes) June 3, 2025
Consequently, this whole saga got people worried; some are calling it a pump and dump by Magic Eden, while others think either Magic Eden or the Trump family’s accounts got hacked. As a result, the Magic Eden coin ($ME) has gone from $0.86 to $1.17, currently at $1.02. Meanwhile, the Trump memecoin is now at $11.40 with a market cap of over $2 billion.
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Key Takeaways
- The Trump family denies involvement in Magic Eden’s wallet, causing confusion and Twitter account suspensions.
- $Trump meme coin hits $11.40 with massive volume, while Magic Eden coin experiences price fluctuations.
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