Trump Coin Price could continue crashing amidst a 20% dip caused by whale sell-offs after Thursday evening’s crypto dinner, an exclusive invite-only event for the largest holders of Trump’s meme coin, TRUMP.
Widespread Whale Sell-off Tanked Trump Coin Price by 20%
In what appears to be a classic ‘buy the rumor, sell the news’ scenario, the meme coin has continued to crash both before and in the days following the event, despite having gained 43% from $9.10 to $16.43 after the dinner’s announcement on May 23, 2025.
The sudden drop left many investors questioning whether insider profit-taking played a role, as blockchain data revealed large wallets offloaded significant amounts of Trump Coin in the hours following the dinner, suggesting the event may have marked a local top rather than a new beginning.
According to data from SOL scan, only eight of the twenty-five wallets that qualified for the VIP access retained their tokens the next day after the dinner. As a result, the total average holdings in the VIPs’ wallets dropped from 4.78 million to $2.11 million.
Trump Coin Price is 2.35% Up, While Social Dominance has Climbed by 3.94%
Despite the weekend sell-off, Trump Coin price is trading at $12.76 following a Monday gain of 2.35%. The increase was accompanied by a surge of 18,100 social mentions, while social dominance rose by 3.94%, according to LunarCrush.
CT Slams $1m Per Person, Per Plate as Assembly-Line Food
A number of attendees to the exclusive dinner posted the food served at the event, which drew a string of backlash from the crypto community on X. Some critics said the event served food “worse than airline meals” despite charging a hefty $1 million worth of Trump Coin for a plate.
“The worst food I’ve ever had at a Trump golf course.” Said Nicholas Pinto, a business influencer who had invested $300,000 in the meme coin.
Lawmakers Threaten to Take Legal Action
The widely publicized event took place at President Trump’s private golf club and has since caused significant concerns among congressional members, oversight groups, and regulatory agencies, who accused the president of shilling his own meme coin by hosting the dinner.
If passed into law, a new bill introduced to the Senate could potentially block the Trump administration from using the Office of the President to promote his personal crypto-ventures, according to an article on The Guardian.
Democrat Senator Richard Blumenthal accused the President of auctioning access to the White House and suggested a lawsuit was the best way to force Trump into complying with rules around receiving foreign payments or gifts.
“The more you buy my meme coin, the greater your chance of coming to dinner with me,” Blumenthal said, describing the event as a Trump-style tactic of essentially putting access to himself up for sale in exchange for tokens from investors.
Moreover, 35 congress members signed an open letter to the Department of Justice demanding an immediate investigation into the Thursday dinner, alleging concerns around breaching the U.S. Constitution, which warns against receiving payments or benefits from foreign entities. According to the U.S. Constitution, the president needs congressional approval when taking such payments.
The concerns have also pointed out potential conflicts of interest considering that Trump has appointed crypto industry allies to run the Securities and Exchange Commission, which lawmakers claim could affect ongoing investigations against several crypto firms.
Final Take
The lack of utility on a meme coin like Trump Coin sets it up for failure if it engineers events like a president-backed crypto dinner. The announcement of such events could stir bullish activity, but it is not sustainable enough to last because the market tends to buy the rumor (or announcement), then sell the news. Thereby resulting in a price crash once the event takes place.
Frequently Asked Questions (FAQs)
Trump Coin price rallied significantly to a value of $16 following the event’s announcement but quickly crashed after the event took place.
The all-time high for Trump Coin is $75.35.
Watchdog groups, lawmakers and a part of the crypto community accused President Trump of auctioning access to the White House, questioning why they must purchase his meme coin to get access to a president they elected.
William S. Berg
William S. Berg is a markets and business journalist at CoinGape, where he covers developments across the digital asset space. He has contributed to leading media outlets such as the Times of Malta and previously reported on business news as an assistant reporter for TVM.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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