Trump Memecoin Bleeds Millions as Whales Flee Before Exclusive Donor Event

Just days before a high-dollar fundraiser for the former president’s campaign, his namesake memecoin sees violent outflows—because nothing says ’stable store of value’ like a politically themed shitcoin. Early buyers dump bags worth $2.3M in 72 hours, crashing liquidity pools. Proving once again that in crypto, the only ’long-term hold’ is the joke.

Among the top wallet addresses, one named “Sun” emerged as the largest holder, owning over 1.17 million TRUMP tokens valued at around $16 million. Speculation immediately followed, linking the address to TRON founder Justin Sun, a known Trump supporter and investor in crypto ventures linked to the Trump family. However, there’s been no confirmation so far.

Other wallets bore names like “elon” and “doge,” fueling rumors about possible involvement from prominent figures like Elon Musk, though no evidence has surfaced. Meanwhile, critics remain wary: with 80% of the token’s supply still under control of the team behind TRUMP, concerns about a potential rug-pull persist.

The dinner event mirrors a similar strategy Trump employed during the 2024 election cycle, when he hosted supporters at Mar-a-Lago who had purchased NFTs tied to his mugshot. Whether any familiar faces from that earlier campaign are among the biggest TRUMP holders this time around remains unclear.