A meme coin themed around Eric Trump, the second son of Donald Trump, has emerged on the Solana ecosystem meme coin launch platform Pump.fun. The coin, named "ERICTRUMP," has surged by over 6,200% in the past 24 hours, raising concerns within the crypto community. Blockchain data platform Bubblemaps posted on the X platform, warning that the Eric Trump-themed token is likely a scam and advising caution against Rug Pull risks.
Rug Pull typically refers to insiders of a token suddenly withdrawing liquidity or selling off large amounts, often leading to a price crash and rendering the tokens held by retail investors worthless. (Cointelegraph)