- $5 million invested in TRUMP tokens, driven by rumors of a dinner with the president for top holders.
- A trader missed $4.5 million in profits, selling 30 minutes before the dinner news broke.
- Critics call it a “pay-to-play” scheme, with Trump directly benefiting from the token’s pump.
A new wave of TRUMP token holders are on a buying spree, not just for profits but to dine with the president himself. After an announcement that the top 220 token holders will secure a dinner invite, a trader pooled in $5 million, or 407,467 tokens, at $12.27 to make a seat.
Such is the frenzy; another cold HTX wallet bought nearly $14.5M worth of $TRUMP, the biggest bag registered for the event per Arkham. However, on the same day, an unlucky trader sold their entire position of 630,339 tokens for $5.48 million just before the news broke. Literally half an hour and missed $4.5 million in potential profits.
For entry, one must hold at least 28K TRUMP (nearly $380k); the top 25 holders also get a reception and VIP White House tour. While many view this as a calculated power move, critics have warned of causing a massive pump and short squeeze.
Let that sink in: Trump, his family, and his businesses control the coin, so he’s essentially telling people to pump his assets if they want a seat at his table. It’s a pay-to-play scheme dressed up as a meme, and it’s everything America is supposed to stand against. Oh, and the lock-up period for insiders to dump the coin ended last week.
Navigating TRUMP: Market Reactions and Political Implications
Another noted that Trump is a marketing genius who is trying to pump the coin right before the huge coming unlocks. “It’s obviously a good scheme to extract as much value as possible for as much time as possible, wrecking us even more. Stay safe!”
This is a first-of-its-kind event as it blends political campaigning with blockchain-based loyalty. Market observers frame this as token-gated access, a familiar Web3 concept. However, the involvement of a high-level political leader raises questions: Does it truly democratize access based on support, or simply replace traditional high-dollar donor dinners with digital wallets?
Supporters see this as strengthening ties between Trump and the growing crypto voter base, a potentially bold experiment in Web3 engagement as crypto regulation remains a key US policy debate.