Donald Trump-themed crypto token DJT has shed more than 90% of its value over the past six hours. From a daily high of $0.005308, DJT nosedived to create a low around $0.0000908, before recovering and climbing to $0.0005.
At press time, the market cap of the token was down to $5 million, with only $28k registered in volume over the past day.
People from the community outrightly pointed fingers towards Martin ‘Pharma Bro’ Shkreli for triggering the dump.
blocmates reached out to Shkreli for comment but did not receive a response until the time of publication.
Towards mid-June, it was revealed that Martin Shkreli was involved with the DJT token. On Tuesday, he affirmed on social platform that the DJT token “was made by barron, a third guy and myself.”
However, Shkreli underlined that he did not possess the keys and was being wrongfully framed for the rug pull. When a user claimed that one doesn't require keys to sell a coin, Shkreli defended,
“i dont have the keys so... irrelevant to me. you do [need keys] to remove LP. i dont have any tokens, i didnt sell any today, or yesterday, or this month.”
In a series of replies to different people on CT, Shkreli unveiled that he steered away from DJT a month ago. He added,
“i stopped caring once the kid stopped returning my calls. only person i know to have the keys is BT…. ask barron”
That being said, it should be noted that Roger Stone, one of Trump's close aids, denied the involvement of the presidential election contender or his son with the DJT token in June.
In 2015, Shkreli, then CEO of Turing Pharmaceuticals, gained infamy and earned the nickname “pharma bro” after he dramatically raised the price of a critical medication by over 5,000%, making it unaffordable for patients across the board.
A couple of years later, he was sentenced to seven years in prison for securities fraud in a different case. He was released early in 2022.
