The meme coin known as BARRON has generated buzz online, with many users mistakenly believing it to be the official token of Donald Trump’s youngest son — supposedly created on the heels of TRUMP and MELANIA’s success. Shortly after its launch, the asset’s market cap briefly soared to $400 million, only to crash within hours, leaving many investors facing heavy losses.
According to Lookonchain, one user purchased $1.17 million worth of BARRON, but just two hours later sold the tokens for only $159,800. The token’s price plummeted, its market cap sinking from $400 million to $84 million, and at press time sits at $28.5 million.
Meanwhile, analyst Nick Ford labeled BARRON as fraudulent, stating that it has no connection whatsoever to the Trump family — unlike the TRUMP and MELANIA tokens.
“BARRON uses a common scam technique that involves faking transactions from well-known addresses to create an appearance of legitimacy,” the expert explained.
According to Ford, BARRON’s creators tried to mimic the activity of wallets linked to the Trump family’s official tokens. However, upon inspecting addresses and transaction details, Ford found them to be fake. One giveaway: the “purchases” were for amounts as small as $2 each.
