Trump’s TRUMP Memecoin Faces Heavy Sell-Off Despite White House Dinner Invite
Blockchain data reveals major outflows as traders cash out Trump’s memecoin amid growing skepticism.
Traders Dump TRUMP Tokens After Dinner Incentive Falls Flat
Despite US President Donald Trump’s high-profile attempt to boost his TRUMP memecoin — offering a private dinner and White House tour for top holders — blockchain data shows investors are still rushing for the exit.
According to blockchain analytics firm Nansen, as of April 25, the TRUMP token experienced over $869 million in outflows compared to just $96 million in inflows during the past week among the top 500 wallets.
“It’s clear that more people took the opportunity to offload their Trump tokens than new buyers came in,” said Nansen in its latest report.
The dinner offer initially sparked excitement, but it seems the chance to dine with Trump wasn’t enough to offset fears of price volatility and potential conflicts of interest. While some new wallets entered the top 250 holders, a significant number of previous holders chose to sell off their positions.
Who’s Really Behind TRUMP Token Holdings?
Although the identities of many TRUMP tokenholders remain unknown, speculation is rampant. One wallet labeled “Sun” holds around 1,176,803 TRUMP tokens — roughly $16 million worth — leading to rumors that Tron founder Justin Sun could be involved.
Cointelegraph reached out to Sun’s representatives but received no official response by the time of publication.
Other notable wallet names, such as “elon” and “doge,” have fueled gossip that Tesla CEO Elon Musk — a known Dogecoin advocate — might be connected, though no concrete evidence supports this yet.
Concerns Over Token Control and Potential Rug Pull
Adding fuel to the fire, 80% of the total TRUMP token supply is controlled by the project team. Critics warn this centralized control heightens the risk of a rug pull, a maneuver where developers abruptly withdraw all funds, leaving investors empty-handed.
The situation echoes Trump’s previous Mar-a-Lago dinner event in 2024, where supporters who purchased NFTs of Trump’s mugshot were given access to a private event. It’s unclear if any attendees from that event are among today’s top TRUMP token holders.
Final Thoughts: Dinner Can’t Stop the Dump
Trump’s latest push into crypto, while headline-grabbing, shows that even presidential promises can’t override market realities. With major outflows, skepticism around insider advantages, and mounting regulatory concerns, the TRUMP token’s future remains highly uncertain — dinner invitation or not.
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