Restore the Republic (RTR) Epic Fail

[peter0425]

Restore the Republic a token on the solana blockchain which a lot of people thought to be the new project of the Trump family turned out to be nothing but your usual memecoin with not much of a purpose. After hitting not even as high as $0.5, it goes down right after the Trump family clarified that their big crypto project was not a token and certainly not RTR.

It was then announced that Trump's family's project was a crypto platform

Anyway I am not here to discuss the implementations of this on politics but rather how misinformation can run through the media and in the crypto scene. For sure the makers of RTR got their profit meanwhile those who believed earned nothing but losses. What could be worse is that many newbies would have been introduced to crypto through allegedly Trump tokens just for them to be dumped. Hopefully they do not assume that all crypto are now scams and just lies to manipulate people for money.

[Lida93]

Anyway I am not here to discuss the implementations of this on politics but rather how misinformation can run through the media and in the crypto scene. For sure the makers of RTR got their profit meanwhile those who believed earned nothing but losses. What could be worse is that many newbies would have been introduced to crypto through allegedly Trump tokens just for them to be dumped. Hopefully they do not assume that all crypto are now scams and just lies to manipulate people for money.

This is a further awakening about the dangers of online hypes on about to be launched coins, it doesn't matter the channel the hype could be associated with, doing a careful research while been patient to observe before going in is very important.

For newbies  they should accept this as an experience to never underestimate due diligence, never basing their action to invest in a coin base on their believe but base on information from their thorough findings. And investing amount you can afford to risk losing.

Finally, my opinion is that it was a well orchestrated rug pull mission. A deliberate cryptocurrency heist and not one out of some alleged misinformation. There's more underneath that what we are being told about this RTR pump and dump.

[coin-investor]

Restore the Republic a token on the solana blockchain which a lot of people thought to be the new project of the Trump family turned out to be nothing but your usual memecoin with not much of a purpose. After hitting not even as high as $0.5, it goes down right after the Trump family clarified that their big crypto project was not a token and certainly not RTR.

This is the risk of not properly doing research; Investors should have gotten the news from the right source, not from influencers who are getting paid to shill and hype the coin.
Developers will pump their token and claim that it's going to the moon, and when they have enough pump, they will do a rug pull.

What could be worse is that many newbies would have been introduced to crypto through allegedly Trump tokens just for them to be dumped. Hopefully they do not assume that all crypto are now scams and just lies to manipulate people for money.

It's a hard lesson for newbies to learn, but experience is the best teacher. They will know now what to look, how to look, and how to decipher the right project from the wrong one. Even seasoned investors get scammed because scammers are good at creating a project that looks real and legit, so we really have to dig deep to save our money and effort.

[peter0425]

Hopefully, this will encourage more informed investment decisions and help prevent similar scenarios in the future.

Thanks for bringing it up OP !!

No worries!

It just bothered me that I have seen not just one memecoin relating to Trump but multiple already. I have seen such many claims with no actual source to back it up. Trump is becoming a big name in the crypto space but he has yet to announce if he has any plans for a token from himself.

In the digital era, it is crucial to be aware and knowledgeable how to avoid misinformation. Anything can be falsified these days so we need to be extra smart.