When Markets Play Dress-Up: The Curious Case of Magic Eden’s Trump-Turnabout

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In the most melodramatic style of the times, our dear Magic Eden’s native token, ME, experienced a sudden and most astonishing increase of nearly thirty-two percent on the evening of the third of June, ascending from a modest below eighty cents to a soaring dollar fourteen. One might venture to say this was as swift as an elopement, and perhaps just as scandalous, for the volume of trading exchanged hands leapt an astonishing three thousand percent, reaching a sum of four hundred and sixty-eight million dollars, as per the reports of CoinMarketCap. Such a spectacle surely would these days cause no small flutter, and perhaps even a few fainting spells among the more delicate investors.

This extraordinary movement in the market was shrouded in intrigue, following an announcement regarding a new cryptocurrency wallet, bearing the name of the former President, Donald Trump. The website of Trump Wallet proclaimed that Magic Eden had entered into a partnership with GetTrumpMemes.com for the launch of the very first official $TRUMP Wallet by none other than President Trump himself. The excitement was palpable, with the aim seemingly to make it as simple as possible — a veritable ‘trump’ card, if you will — for his supporters to enter into the world of cryptocurrency and join the community of the such devoted followers.

With Billions of Trump fans around the world, the $TRUMP mission has always been to make it super easy for Trump supporters to get into crypto and join the $TRUMP community.

The $TRUMP Wallet powered by @magiceden is coming soon. Join the $TRUMP community!…

— TrumpMeme (@GetTrumpMemes) June 3, 2025

One might have supposed this to be a most high-profile venture, for GetTrumpMemes.com is owned by Fight Fight Fight LLC, which itself is under the influence of CIC Digital LLC, an entity affiliated with the Trump Organization itself. Such connections, upon first glance, appeared to lend credibility and allure to the partnership, much like a finely set ball gown in the brightest ballroom.

Alas! The plot thickens. No sooner had the excitement built that Donald Trump Jr., the President’s own son, publicly disclaimed any involvement of the Trump Organization in this enterprise. He declared he knew nothing about it, and that the family’s own crypto initiative, named World Liberty Financial, was soon to unveil its own wallet, perhaps more to his liking, or at least with his blessing.

The Trump Organization has zero involvement with this wallet product. @EricTrump and I know nothing about it. Stay tuned—World Liberty Financial @worldlibertyfi, which we have been working tirelessly on, will be launching our official wallet soon.

— Donald Trump Jr. (@DonaldJTrumpJr) June 3, 2025

Further complicating matters, Eric Trump, the President’s second son, issued a stern warning to Magic Eden, advising them to be “extremely careful” in dealings involving the Trump name. He also informed the esteemed New York Times that the Trump family would take legal measures against any ventures that sought to use their name without solemn approval.

This project is not authorized by @Trump. @MagicEden I would be extremely careful using our name in a project that has not been approved and is unknown to anyone in our organization.

— Eric Trump (@EricTrump) June 3, 2025

Yet, despite these proclamations, Magic Eden and the team behind the $TRUMP token have remained notably silent, leaving the world to guess their intentions. Even more curious, the platform X (formerly Twitter) suspended the account Trumpwalletapp—once verified, now just another casualty in the grand drama.

Market Mischief and Theatrics: A Case of the Oldest Game

The conflicting accounts and sudden reversals have bred a storm of volatility, with the ME token’s price retreating approximately thirteen percent following the denials of Trump’s involvement. At present, the token steadies itself at about the dollar mark, still boasting a nineteen percent increase over the previous day’s caprice. Truly, a spectacle that would do Mr. George IV’s court chaplain proud!

Community members have whispered concerns of manipulation, murmuring that this might be a most delicate game of market mischief—”crime season,” as the sharp-witted Follis observed with a sardonic grin—seeing the price dance like a lady at her first ball: up on the news of partnership, then down on the revelation of falsehoods. The fabled 40 percent rise, only to tumble 20 percent thereafter, seems hardly the conduct of a stable economy, more like a jest at the expense of unwary investors.

Just in case you forgot that this is crime season $ME pumped +40% on news that it had partnered with Trump to launch a wallet and trading app

Then dumped -20% on headline that the news was fake

Can’t make this sh*t up lol

— フ ォ リ ス (@follis_) June 3, 2025

Even the venerable critic Molly White, long known for her candor in these tangled affairs, declared the scene to be “absolute chaos,” a phrase more suited to a disorderly ball than a matter of commerce. The controversy, she notes, unfolded with the rapidity of a Regency scandal—announcements made, disavowals issued—leaving the observer in a state of amused bewilderment.

Absolute chaos. After my scoop about the upcoming launch of a Trump Wallet by Magic Eden, in cooperation with the $TRUMP memecoin team, Magic Eden pushed out their announcement. Both Eric and Don Jr then repudiated the project, stating they had no prior knowledge.

— Molly White (@molly0xFFF) June 3, 2025

Lastly, the seasoned Gro3 Radar has opined that the matter underscores the importance of internal communication—an element as essential to a trustworthy establishment as a well-pressed cravat or a correctly balanced dance card.

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2025-06-04 18:24