A fake meme coin based on Eric Trump underwent a massive rug pull today, falling from a $160 million market cap to $30,000 almost instantly. The token displayed several dubious characteristics ahead of time.
The scammer tried to launch three failed Eric Trump tokens before this one started trending. One breakout success is more than enough to reward this duplicitous behavior.
Eric Trump Coin Gets Rug Pulled
Rug pull scams are a growing part of the crypto ecosystem, and fake meme coins are a core component of the “sector.” Today’s Eric Trump rug pull was particularly egregious, as it was clearly telegraphed in advance.
After the meme coin spiked 6,200% in less than a day, Bubblemaps investigated the asset, warning followers not to fall for it:
“A rug in the making. ERICTRUMP is currently trending on most platforms. Avoid it,” he stated several hours before the rug pull. The warning received more than 100,000 views.
Specifically, he noted that the token was bundled to an absurdly large degree. A small number of accounts held most Eric Trump tokens, facilitating an easier exit whenever the scammer decided to pull the rug.
When President Trump launched his own meme coin, the saga that led to this scam began. TRUMP broke new ground in combining fame and political success to boost a cryptoasset’s value, and an official MELANIA token came out shortly afterward.
After this, fake coins and rug pulls began using other Trump family members’ names, including Eric.
Those projects failed, but this coin started trending. Then, the scammer exited, and the token’s market cap fell from $160 million to $30,000 in the blink of an eye:
Even if the scammer’s first attempts failed, one multimillion-dollar success can go a very long way. It’s concerning that the ERIC TRUMP rug pull performed so well despite the blaring and well-publicized warning signs.
As long as cash grabs like this continue to succeed, they will damage the entire industry’s reputation and future.
The price of SUI has seen a significant uptick recently, outshining XRP in terms of growth and demand. However, it’s not just the price action that’s noteworthy. In May, SUI has drawn the attention of institutional investors, marking a shift in demand that could have long-term implications for the crypto market.
As institutional inflows flow more freely into SUI, the focus shifts from its price performance to its potential as a Web3-focused ecosystem.
SUI Sees A Surge In Demand
Institutions are increasingly flocking to SUI, as evidenced by $21 million in inflows month-to-date, making it one of the top-performing altcoins, second only to Ethereum. In comparison, XRP, historically an institutional favorite, has seen inflows of just $8.6 million in the same period.
This shift is concerning for XRP as institutions begin to focus more on SUI’s potential rather than its established presence in the market. SUI’s appeal to institutional investors is based on its scalability and focus on the Web3 space, which aligns well with current trends in decentralized finance (DeFi) and blockchain-based applications.
SUI vs XRP Institutional Flows. Source; CoinShares
SUI’s increasing institutional inflows highlight a growing preference for projects that offer more than just financial transactions. XRP, while still maintaining institutional backing with $263 million in 2025, has not been able to capture as much attention in recent weeks. SUI’s ability to scale decentralized applications (dApps) more effectively than XRP positions it as a better choice for institutions looking to align with long-term trends in blockchain technology.
XRP Makes It To CME
One key factor driving institutions to SUI is its lack of listing on major platforms like CME, unlike XRP Futures, which further solidifies its untapped potential. XRP Futures recently launched on CME, making the token more accessible to a wider range of investors.
However, this development also diminishes XRP’s image as an overlooked asset, giving SUI a unique advantage by remaining relatively underexposed. As more investors seek high-growth opportunities, SUI offers them the chance to get in early before the token is fully accessible on major platforms.
SUI’s decentralized, Web3-focused design also plays a large role in its growing appeal. Unlike XRP, which is predominantly centered around payment and remittance solutions, SUI focuses on scaling dApp ecosystems, a feature highly sought after by institutions entering the Web3 space. This increased focus on scalability and decentralized applications positions SUI as an ideal choice for institutions looking to diversify their blockchain investments.
SUI vs XRP – Which Has A Better ETF Prospect?
XRP has its own advantages, especially regarding the potential for exchange-traded funds (ETFs). XRP’s status as an established digital asset gives it an edge when it comes to ETF approvals. The ongoing Ripple lawsuit also seems close to a resolution, pending court proceedings, likely boosting XRP’s clean image.
The SEC’s settlement with Ripple would increase investor confidence in XRP, giving it a stable footing in the long term. However, for the time being, SUI’s scalability and Web3 ambitions have won the attention of institutional investors, pushing it ahead of XRP in terms of demand. Nevertheless, XRP ETF will likely see the light of day first.
Furthermore, Juan Pellicer, Head of Research at Sentora, discussed with BeInCrypto the major factors that could push XRP for an early ETF.
“XRP’s decade-long trading record and early ETF filings put it first in the regulatory queue, while Sui still needs deeper liquidity and a longer track-record before the SEC is likely comfortable green-lighting a SUI ETF.”
XRP Price Needs A Boost
XRP has risen by 14% over the last 30 days, but it is still fighting against a macro downtrend. The broader market conditions make a breakout rally unlikely, with XRP struggling under resistance levels.
The current price range for XRP is facing challenges, as a lack of bullish momentum continues to hold it back. However, if XRP follows Bitcoin’s rise and leverages its CME debut hype, it could see an increase in price, potentially reaching $2.56 and beyond. A breakout above this level would end the downtrend and allow XRP to surge higher.
But if XRP fails to breach this resistance level, it risks further consolidation. This would likely send it toward a drop to $2.12, falling through $2.27, invalidating any bullish predictions for the short term.
SUI Price Wins This Round
SUI has shown an impressive 82% rise over the past month, trading at $3.85 at the time of writing. Despite encountering resistance at $4.05, SUI has yet to see a significant correction, suggesting continued bullish momentum.
Given the ongoing demand for SUI, its price is expected to stay above $3.59, allowing it to break through the $4.05 resistance. A breach of this level could propel SUI towards $4.35 or higher.
On the other hand, a drop below the support level of $3.59 would suggest that investors are beginning to book profits. In that case, the price could fall to $3.18, invalidating the current bullish outlook for SUI. However, based on institutional demand and SUI’s infrastructure, it appears likely that its price will continue to rise in the short to medium term.
President Trump’s family-controlled media company, Trump Media & Technology Group (TMTG), plans to raise $3 billion to buy cryptocurrencies such as Bitcoin.
According to reports, the capital raise will include $2 billion in fresh equity and $1 billion via a convertible bond.
Trump Media’s Crypto Venture Coincides with the President’s Collision with Harvard
TMTG aims to announce the offering ahead of a major crypto conference in Las Vegas, where Vice President JD Vance and Trump’s sons, Donald Jr. and Eric, are expected to speak.
According to the Financial Times, underwriters could include ClearStreet and BTIG. The at-the-market share sale would be executed near Friday’s closing price.
BEEAKING: TRUMP Media Group aims to raise $3 BILLION for cryptocurrency investments.
Notably, this move closely follows Trump’s threat to redirect $3 billion in federal research grants away from Harvard University to US trade schools.
The administration froze roughly $2.2 billion in grants, mainly from the National Institutes of Health, after accusing Harvard of fostering antisemitism and non-compliance with federal directives.
Meanwhile, Harvard has sued, calling the funding cuts unconstitutional. That proposal would require congressional action to reallocate funds designated for biomedical research.
Critics argue it represents an overreach of executive power. However, supporters say it would boost vocational training in high-demand trades.
Bill Ackman Says Harvard is Mismanaging Their Negotiations w/ President Trump
“The wrong thing to do with President Trump is to escalate … The view of most Americans is that the federal government giving taxpayer money to a university is a privilege and not a right … President… pic.twitter.com/unrdrjrfz8
While TMTG operates independently of the federal government, the timing and scale of its crypto ambitions have drawn scrutiny, given its close ties to the Trump family and the administration’s broader policy posture.
There is a juxtaposition that can’t be ignored. A Trump-linked entity raising billions for digital asset investment as the administration pressures elite institutions and proposes to shift public funding toward vocational programs.
The Leading Spans A and B, which comprise the momentum indicator, sit beneath FARTCOIN’s price, forming dynamic support levels at $0.68 and $0.59, respectively. For context, the altcoin trades well above these price points at $0.91.
This setup suggests that FARTCOIN remains in a strong uptrend, with the Ichimoku Cloud offering support in case of any pullbacks.
Traders often see this structure as a signal of sustained buying interest and market confidence. Therefore, as long as FARTCOIN’s price holds above these leading spans, bullish momentum will likely remain intact.
Further, the meme coin’s Relative Strength Index (RSI) remains below 70, which means it has not yet hit overbought conditions, leaving room for further upside. At press time, this indicator, which measures an asset’s oversold and overbought market conditions, is at 68.38.
This RSI reading signals that FARTCOIN is approaching overbought territory but has not crossed the 70 threshold yet. It suggests strong bullish momentum and hints at further price gains before buyers’ exhaustion hits.
FARTCOIN Eyes Major Upside, But Sell Pressure Could Trigger Price Pullback
FARTCOIN’s current position above its Ichimoku Cloud signals that it has not just broken through key resistance levels but is now trading firmly in bullish territory. This indicates a clear shift in market sentiment, with buyers stepping in aggressively to support the rally.
If bullish pressure remains, FARTCOIN could continue its rally and climb toward $1.16.
However, a resurgence in profit-taking activity could invalidate this bullish projection. If sell-side pressure spikes, FARTCOIN could shed some of its gains and fall to $0.74.
If the support floor fails to hold, FARTCOIN risks plunging below the Ichimoku Cloud to exchange hands at $0.19.
