Allegations surfaced about Truth Social, a platform created by Donald Trump to compete with Big Tech and appeal to right-wing users, launching a meme coin.

However, various Trump-related groups have dismissed any rumors about a Truth Social meme coin launch.

The controversy started when Ran Neuner, host of Crypto Banter, mentioned on Twitter that the Truth Social meme coin was about to be released, arousing excitement among meme coin traders and Trump-supporting token enthusiasts.

Nevertheless, entities associated with President Trump, including Truth Social and World Liberty Financial (WLFI), have refuted these claims, stating that there is no Truth Social meme coin.

Donald Trump Jr. also addressed the issue, emphasizing that the rumors about Truth Social launching a meme coin are false and cautioned against falling for misinformation.

While the meme coin speculation seems to have subsided, some observers noticed that Truth Social's name on Twitter has " $DJT" in it, prompting speculations due to the similarity with Trump Media & Technology Group's stock ticker.

There were earlier indications that Truth Social and its parent company were contemplating the launch of a cryptocurrency to improve platform use. However, no concrete plans or official announcements were made.

Despite the denials from all parties, uncertainty remains, reflecting the hype around potential cryptocurrency initiatives associated with the Trump brand.