Fake Eric Trump Meme Coin Rug Pulls After Hitting $160 Million Market Cap

A fraudulent meme coin branded as ’Eric Trump’ collapsed abruptly after surging to a $160 million market cap, marking another high-profile rug pull in the crypto space. The scammer behind the token had previously launched three failed iterations before this version gained traction.

Analytics platform Bubblemaps flagged the token as a likely scam hours before its collapse, noting extreme token bundling among a small group of wallets. The warning garnered over 100,000 views but failed to prevent the eventual 6,200% pump-and-dump scheme.

This incident underscores the persistent risks surrounding unvetted meme coins, particularly those capitalizing on celebrity or political figures. Rug pulls continue to plague the crypto ecosystem, with fraudulent actors exploiting HYPE cycles to manipulate prices before disappearing with investor funds.