Good day everyone,
I hope you are all having a good day, welcome to CryptoGod-1's blog on all things crypto. In this post I will be looking at a recent scam $TRUMP token which was a honeypot scam and plummeted to zero.
$TRUMP Honeypot Scam
The Crypto Emperor Trump ($TRUMP) token has been revealed to be a honeypot scam, with the token crashing to nearly zero and leaving investors unable to sell. The token saw a meteoric rise in price over the last five days as it went from $0.001693 on November 15 to a high of $0.9284 on November 20. This was an increase of 54,737%. However the tokens rapid rise was a short-lived one as its price plummeted down to $0.000015 and left its investors with significant losses.
Uniswap v3 (Base) was the most active exchange for $TRUMP and it accounted for the majority of the 24-hour trading volume at $12,698,120. The rapid rise in price of the token was fuelled by intense social media activity as numerous posts which promoted the token and encouraged people to invest. A sense of urgency was created and plenty of FOMO (fear of missing out) ensured that many decided to invest without conduction proper research on the token.
$TRUMP token was a classic honeypot scam and was designed to lure in investors while preventing them from selling their holdings. Many investors went onto social media platforms like Reddit or X to express their frustration and disappointment. There were reports of investors being unable to sell their $TRUMP tokens. This confirms the honeypot nature of the scam, and some investors even suggested that the token was designed to target users of the Coinbase Wallet.
Have a great day.
Peace. CryptoGod-1.
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