Trump Coin Slips Below $10 as Solana Whales Exit Amid VIP Dinner Fallout

TRUMP coin tumbles after major Solana whales dump millions in tokens. Ethics probe and fading hype over Trump VIP dinner may be driving the crash.

In a dramatic turn of events, TRUMP — the politically charged meme coin tied to former U.S. President Donald Trump — is struggling to hold its value after a weekend of heavy sell-offs from two major Solana-based investors. This comes just weeks ahead of a scheduled VIP dinner event touted as an exclusive benefit for TRUMP token holders, now mired in controversy and declining sentiment.

On Sunday morning, two Solana whales made the rare move of exiting their TRUMP positions at a loss, signaling waning confidence in the PolitiFi token’s utility and future. One investor offloaded 337,560 TRUMP coins, accepting a $1.38 million loss despite having previously pocketed a $196K gain. Meanwhile, another whale who was once $732K in profit sold 427,568 TRUMP coins, ultimately incurring a staggering $961K loss.

Together, these exits erased over $1.42 million in principal and reversed previous gains — a jarring blow to the community surrounding the meme coin.

The massive liquidation was likely triggered by multiple factors, including a swift drop in TRUMP’s price from $12.72 to $11.38 in under three hours on Saturday. Speculation points to a recent ethics probe spearheaded by Democratic Senators Adam Schiff and Elizabeth Warren, who allege that the Trump coin’s promotional campaign may constitute a “pay-to-play” scheme — a charge that, if validated, could disrupt the upcoming May 22 dinner event.

According to the coin’s official website, the top 220 TRUMP holders were promised a seat at the event, while the top 25 would enjoy a private meet-and-greet with Trump. Elite holders were even promised an exclusive Washington D.C. VIP tour the following day. Yet, despite these offerings, investor sentiment appears to have cooled.

At press time, the TRUMP coin had regained 2% in 24 hours, hovering above the $11 mark, per CoinGecko. However, the downturn may continue unless confidence is restored.

Notably, data from Chainalysis suggests the core team behind the Trump token raked in nearly $900K in trading fees in just two days following the dinner announcement, raising further questions about the coin’s underlying intent.

Why It Matters:
Crypto’s intersection with political figures remains a regulatory grey zone. TRUMP coin’s volatile trajectory underscores the risks — and reach — of tokenized celebrity endorsement.

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