A new Solana memecoin called $GOLD drew attention on August 29 after @realtrumpcoins1, an X account followed by U.S. President Donald Trump, promoted a project called Trump Digital Gold. Lookonchain identified heavy ownership concentration immediately after launch: the developer wallet held 600 million tokens, while 15 newly created wallets bought 224.5 million tokens for $18,657, leaving the team with control of 82.45% of supply. DEXScreener data showed the market cap briefly reaching $62 million before falling more than 95% in an hour to roughly $800,000. The 15 wallets later sold their holdings for 3,178 SOL, worth about $330,000, for an estimated $312,000 profit and a 17-times return. Promotional posts were deleted, and later claims that the account had been compromised and activity was linked to Iranian hackers remained unverified. The episode was not proven to be connected to the official U.S. Mint $1 commemorative coin featuring Trump’s image, which Treasury officials announced in early 2026 for America’s 250th anniversary.