DJT, one of the Trump-themed memecoins, took the cryptocurrency world by storm with rumors that former President Donald Trump had endorsed it.
Speculation increased Monday after tech publication Pirate Wires reported that the token was launched with Trump's approval.
However, the silence of Trump campaign officials has raised questions about the legitimacy of these claims.
However, an insider with direct knowledge of the Trump campaign's decisions stated that the campaign was not involved in the DJT project.
One of the first proponents of the DJT token's so-called official status was Martin Shkreli, a former pharmaceutical company executive known for his controversial past. Shkreli claimed that DJT was an “official Trump token.”
Shkreli later claimed on X Spaces, hosted by influencer Mario Nawfal, that he created the DJT token in collaboration with Donald Trump's youngest son, Barron Trump. According to Shkreli, Barron holds the majority of the tokens and is the sole owner of the project.
According to CoinGecko data, DJT is currently trading at around $0.01 with a market cap of $103 million.
*This is not investment advice.