Trump Digital Gold Token Crashes 99% After a Suspected Rug Pull

The Solana-based Trump Digital Gold (GOLD) token plunged more than 99% after traders accused it of a rug pull. The token reportedly surged quickly to a market cap near $60 million before collapsing to around $600,000 within minutes. The disruption began on 29 August, 2026, when an account tied to realtrumpcoins1 published a promotional post claiming the Trump Foundation backed the launch of GOLD. The post appeared credible partly because it was later followed by Donald Trump’s main X account; the promotional message was then deleted shortly after the peak. On-chain data suggested concentration, with around 82.45% of the total GOLD supply held in insider wallets. After the crash, 15 newly created wallets sold about 224.5 million tokens on decentralized exchanges, generating around 3,178 SOL (about $330,000).