Trump Gala Over, Top Memecoin Holders Dump Tokens on the Market

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Oh, the delightful chaos of the crypto world! The market data for the Official Trump token (TRUMP) has taken a nosedive. Once the darling of meme coin enthusiasts, the token has dropped like an overcooked soufflé, with prices slipping down to $12.85. Oh, but don’t fret, darlings, because the ride isn’t over. The 24-hour volatility is a mere 0.3%, so stay tuned for the next big thing!

Market cap? A healthy $2.57 billion, darling. But hold your applause for a moment, because the 24-hour volume is a bit more dramatic at $951.17 million. A proper spectacle, wouldn’t you say?

TRUMP Holders Exit Stage Left Before the Gala Begins

The Trump crypto gala took place on May 22, and let’s just say it was less “grand celebration” and more “awkward family dinner.” Following the event’s announcement, the TRUMP token rose by a fabulous 30%. Naturally, the top 220 holders of the TRUMP meme coin showed up to bask in their moment of glory.

But don’t get too excited, my dears. Despite the glitzy affair, market signals were flashing red even before the first canapé was served. Blockchain data reveals that 92,220 wallets ditched their tokens before the dinner. A bit like throwing your coat on the bed and rushing to the airport when you realize the party is already over. The result? A 14.84% drop in the price, landing at a very unfashionable $13.36.

After the grand feast, the top wallets held a mere 7 million tokens—down from 11.3 million. An insider job, perhaps? The grand sell-off had all the subtlety of a Shakespearean tragedy, leaving behind a trail of broken promises and shattered dreams.

Let’s be honest, this whole saga reveals just how fickle meme coins are. They thrive on celebrity attention, not real substance. Just ask Binance founder Changpeng “CZ” Zhao, whose tweet about dogs sparked the birth of a new meme coin. A simple dog tweet—yes, really! How terribly clever of him. 🙄

Political Backlash Steals the Spotlight at the Trump Coin Gala

But wait—there’s more! It wouldn’t be a Trump event without a bit of controversy. Lawmakers and protesters gathered outside, wagging their fingers in unison, accusing the president of some rather questionable dealings. Apparently, using digital assets as a way to cozy up to the political elite isn’t everyone’s idea of a good time. (Shocking, I know!)

Senator Chris Murphy was particularly vocal, calling the event “a corrupt setup.” According to him, offering access to the president in exchange for crypto investments creates a cozy little bridge between politics and speculation. How quaint.

Trump’s meme coin is designed to facilitate corruption. You can pay Trump secretly, which gets you secret special access to the President. If Trump’s dinner with the top coin buyers was legit, he would release the list of attendees. But it’s corrupt. So the list stays hidden.

— Chris Murphy 🟧 (@ChrisMurphyCT) May 22, 2025

And, let’s not forget the looming threat of legislation. Democratic lawmaker Sam Liccardo has introduced a bill to ban government officials from launching their own meme coins. Why? Because President Trump and his lovely First Lady decided to release their own memecoins earlier this year, naturally. How else would they stay relevant, darling?

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2025-05-23 20:01