As the highly-anticipated Donald Trump VIP dinner for a selection of meme coin holders turns out to be a flop, two crypto whales have cashed out massively. On Sunday morning, two large TRUMP coin investors chose to take a loss instead of keeping the PolitiFi meme coin for a longer period of time.
Solana Whales Surrender To Massive TRUMP Losses
First, one Solana crypto whale got rid of 337,560 TRUMP crypto tokens, losing $1.38 million in the process. Previously, this Solana meme coin investor made a solid profit of $196K on the United States Presidentโs signature meme coin.
Meanwhile, the other Solana whale in question was $732K up on Official Trump (TRUMP) coin before, but decided to sell 427,568 TRUMP coins on Sunday morning to an eye-watering $961K deficit. Besides erasing the previous gains, the two unfortunate Solana crypto whales also succumbed to a $1.42 million principal deficit.
What Triggered The Multi-Million TRUMP Coin Sell-Off?
Indeed, the Official Trump (TRUMP) coin dumped from $12.72 to $11.38 in three hours on Saturday evening. The quickly shifted sentiment surrounding the presidential meme coin could have come due to an ethics probe by Democratic Senators Adam Schiff & Elizabeth Warren, alleging โpay to playโ type of corruption.
If thatโs proven, Donald Trump might have a hard time setting up the dinner on May 22, 2025. Currently, the official Trump coin website claims that the TOP 220 holders are eligible for this offer, while the TOP 25 largest TRUMP crypto holders are invited to an exclusive meet & greet before dinner.
On top of that, the biggest TRUMP con holders get a ticket to a special VIP tour around the fanciest areas of Washington, DC a day after dining with Donald. While the VIP meme coin holder dinner is still in play, TRUMP crypto price sustains above $11 after a 2% recovery in 24 hours, according to CoinGecko.
On The Flipside
- According to Chainalysis research, the executive team behind the Official Trump coin raked a whopping $900K in trading fees in two days since the Trump dinner announcement.
Why This Matters
Large political figures participating in crypto can be challenging for the investors, as well as regulators. However, it paves the way for retail adoption, opening discussions about the boundaries of crypto endorsement among celebrities.
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