A memecoin with a fake Eric Trump theme, launched on Solana’s Pump.fun, has surged over 6,200% in the last 24 hours, reaching a market capitalization of over $140 million. However, blockchain analysts are cautioning about a potential rug pull due to the memecoin’s suspicious distribution. Bubblemaps, a blockchain data platform, has raised concerns about the token clusters and ownership pattern of the Eric Trump (ERICTRUMP) memecoin, indicating similarities to previous memecoin collapses like the WOLF token. The WOLF token, primarily held by one entity, experienced a 99% price crash after reaching a $42 million market cap. The same deployer behind the fake Eric Trump token has also created three other failed Eric Trump tokens on Pump.fun. Industry experts are on high alert for rug pulls following the recent collapse of the Libra token, where insider wallets cashed out $107 million, resulting in a $4 billion market cap wipeout. Stay informed about the risks associated with memecoins and rug pulls to protect your investments in the volatile crypto market.