After several multi-million transfers were spotted by the blockchain detective agencies, the Official Trump (TRUMP) crypto started to crack, now leading to a 9.5% deficit in 24 hours.
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Still 33.5% up in monthly terms, Official Trump (TRUMP) might have a hard time staying in double-digit price if the current sell-offs continue to escalate. Chaikin Money Flow (CMF), the best indicator to monitor large holder sentiment, dipped below zero on Tuesday afternoon.
Nearly $20M Trump Coins Dished Out To CEXs
The trend switched from bullish to bearish as LookOnChain, a popular blockchain intelligence platform, detected a hefty TRUMP coin sell-off by no other than the coin’s foundational team. According to LookOnChain, the Official Trump (TRUMP) coin team resorted to a three-fold sell-off across Binance, OKX and Bybit crypto platforms.
In total, TRUMP coin executives got rid of 1,346,000 TRUMP tokens worth $19.58 million. Amid these events, TRUMP crypto price slumped from $14.72 to $13.82 in just half an hour, but the downward slope carried on till the evening, as TRUMP coin price was trading at $13.55 at press time, according to CoinGecko.
Trump Facing Probe For VIP Trump Coin Dinner?
The massive dip from the 7-day peak of $16.03 to $13.55 comes amid American Democratic lawmakers alleging that the United States President Donald Trump violated federal ethics regulations with the Trump dinner invitation. Exclusive to 200 largest TRUMP coin whales, this fancy list likely includes crypto magnate Justin Sun.
However, latest social media gossip implies that Donald Trump himself won’t attend the party. Alternatively, it could be postponed or rescheduled while the Democratic probe hangs on the 47th U.S. President’s head. Presented as “the most EXCLUSIVE INVITATION in the world”, the Trump Dinner message sparked a 90% rally in 3 days with whales flocking in.
To illustrate, one crypto whale outside of the United States spent $8 million to gain 653K TRUMP coins, instantly making the Trump dinner’s VIP list. Judging by the reserves of the 220th TRUMP coin holder, it’s possible to get a ticket for an intimate dinner with Donald for as cheap as $420. However, the main question remains whether the TRUMP meme coin fan dinner will actually take place.
On The Flipside
- The inflationary dynamics of TRUMP coin can induce more selling pressure, as only 20% of tokens are released into circulation.
- The other 80% is set to be unlocked over the next three years, boosting the available supply from 199.99 million to 1 billion coins.
Why This Matters
Depending on the perspective, the notion of a holder-exclusive Official Trump dinner serves as a great meme coin utility case or an example of smart, borderline unethical marketing.
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