- Over 90 invited wallets sold all tokens before the event began, leading to a sharp crash.
- Trading volume dropped while the token’s value kept falling well into the next morning.
- Even supporters warned that Trump’s personal crypto work may hurt trust in the industry.
The $TRUMP memecoin fell over 10% following a high-profile dinner gala hosted by Donald Trump on May 22, 2025. The event, held at Trump National Golf Club in Virginia, invited 220 top token holders for a luxury dining experience. Also, the top 25 wallets received VIP privileges, including private time with Trump before the meal.
Despite the event’s exclusivity, blockchain data revealed that 92 wallets had sold their $TRUMP holdings before the gala began. After it was announced, the price of the token fell by 14.84%, down to $13.36. Furthermore, following the event, the number of tokens held by large wallets dropped from 11.3 million to 7 million.
Chart Shows $TRUMP Selloff Gained Momentum
According to CoinMarketCap, over the past 24 hours, $TRUMP had dropped 6.65%, finally settling at $12.87. Seller activity persisted throughout the night and into the early hours of May 24, indicating a wave of investor exits.
Besides price, trading volume fell 35.47% to $1.75 billion, while the market cap dipped to $2.57 billion. The volume-to-market cap ratio reached 68.04%, indicating fast and aggressive trading activity throughout the decline.
Related: $TRUMP Whale Takes $3.3M Loss, Total Loss Hits $15.7M
Investor Concerns and Political Fallout
Although the gala featured filet mignon and halibut, crypto communities were more focused on the memecoin’s performance. Despite the presence of high-profile figures like TRON founder Justin Sun, it didn’t stop skepticism from building around Trump’s personal involvement in the token.
Nic Carter, a Trump supporter and partner at Castle Island Ventures, expressed concern about the industry’s direction. “It’s distasteful and an unnecessary distraction,” Carter said, calling Trump’s crypto moves counterproductive. “We would much rather that he pass common-sense legislation and leave it at that,” Carter added.
The token $TRUMP was quickly adopted in January 2025, though both its ethics and market role were soon questioned. Much of its price volatility has stemmed from its close ties to political figures and important events. While politically themed tokens have captured attention, their long-term viability in the crypto space remains uncertain.
