A memecoin precipitously rose and fell on Thursday after people appeared to falsely claim on the social media platform X that the token was connected to former President Donald Trump.

The apparent "pump and dump" scheme came a day after Trump's sons, Donald Trump Jr. and Eric Trump, took to X to praise crypto while teasing an upcoming DeFi announcement.

In one video posted to X, which was later deleted, only to be then reposted by another user, a popular voice among crypto known as @SizeChad told people if they didn't buy the Restore the Republic (RTR) token they had "low T." Ryan Fournier, a chair member of Students for Trump, also allegedly at one point promoted the token as being associated to the current Republican nominee for president before then later deleting …