Am I reading this right?

Monday, the wallet that owns 80% of the Official Trump coin (the coin Donald promoted on his Twitter along with his son Eric) was valued at about 48 billion dollars. I’ve been checking it everyday, and now this morning it is valued at around 1.6 trillion dollars. Is this correct? It also appears to be making a rugpull every 2-3 hours and allocating 75% or more of its wallet value into that single coin, pulling out 99% of its investment and repeating the cycle.