this post was submitted on 12 Mar 2026
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Leopards Ate My Face

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[–] ThePowerOfGeek@lemmy.world 92 points 4 hours ago (5 children)

Wasn't this exactly by design? Get lots of supporters to buy in, get the price to surge, and then sell at a profit (the good old 'pump and dump')?

[–] lightnsfw@reddthat.com 5 points 52 minutes ago

It's literally how these things work. No one gets rich off meme coins except the people selling at the start.

[–] Lemmyoutofhere@lemmy.ca 58 points 4 hours ago

Basically a way for foreign actors to make bribes.

[–] Corkyskog@sh.itjust.works 12 points 3 hours ago (1 children)

I thought he got a percent of every transaction, I swear I heard that at one point. If that is the case then all he would care about is making sure it stays volatile.

[–] BarneyPiccolo@lemmy.today 3 points 1 hour ago

That's it, he makes money going up or going down.

[–] prole@lemmy.blahaj.zone 7 points 3 hours ago* (last edited 3 hours ago)

Unless I'm thinking of a different Trump crypto grift, I'm pretty sure that they blocked wallets from sending/selling the coin after they've bought it. So only a handful of specific wallets would have the ability to sell.

So even if a person got in early and watched the price go up, as soon as they tried to realize those profits, they'd find out that they can't sell the tokens.

[–] OhmsLawn@lemmy.world 17 points 4 hours ago

Yeah. Assuming he implemented it the way one would expect, the coin value doesn't matter to him at all.