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Trump-Linked Memecoin Sees Sell-Off After Exclusive Dinner Cutoff
Trump-Linked Memecoin Sees Sell-Off After Exclusive Dinner Cutoff
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Investors rushed to pour nearly $2 billion into a Donald Trump-themed memecoin, hoping to secure one of 220 spots at a private dinner at his Virginia golf club. The frenzy drove demand for the token—but the momentum reversed abruptly once the qualification window closed.
Blockchain data reveals 34 of the top 220 holders dumped their stakes hours after the May 12 deadline. The token’s price plunged immediately post-cutoff, raising questions about the sustainability of event-driven crypto speculation. Market observers now scrutinize whether the dinner’s exclusivity justified the capital influx—or merely created a pump-and-dump scenario.
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