Crypto Emperor Trump ($TRUMP) is suspected to be a Pixiu scam, and the price is close to zero

According to CMC data, the price of Crypto Emperor Trump ($TRUMP) has risen rapidly in the past five days, from $0.001693 on November 15 to $0.9284 on November 20, an increase of 54,737%. However, it has since plummeted and is now close to zero (around $0.000015). As of press time, Uniswap V3 (Base chain) accounts for the majority of $TRUMP's 24-hour trading volume. Some investors have reported on social media platforms such as Reddit or X that they are unable to sell their $TRUMP tokens, suspected to be Pixiu disks. Some investors even suggested that the token may be designed specifically for Coinbase Wallet users because they cannot sell the tokens on the platform. The presence of scam tokens like $TRUMP on Coinbase Wallet has also caused concern in the cryptocurrency community, and urged the platform to restrict contracts with such exploitative mechanisms to protect users. According to an analysis by ChainDefenders on X, a large portion of the $TRUMP token supply is held by a small group of interconnected addresses. The top seven holders are associated with a common contract, suggesting that they are coordinating to control the price and distribution of the token. In addition, a large number of previously inactive addresses suddenly began to buy $TRUMP tokens, causing a surge in trading volume. A recent analysis of more than 1,000 new tokens (mostly meme coins) on the Base chain showed that 908 projects failed to meet one or more basic security measures, including locking liquidity, verifying contracts, etc. (Cryptonews)