Trump Coin Down 15% Since Gala—40% of Wallets Dump Holdings

The controversial President Donald Trump memecoin, TRUMP coin, tumbled 15.23% after a high-profile dinner gala on May 22.

The token has since fallen from $14.90 to $12.63 overnight, ranking it among the worst-performing assets among the top 100 cryptocurrencies.

Data from on-chain analytics and wallet trackers show that approximately 40% of the top 220 wallets holding TRUMP dumped their tokens during or after the event, signaling waning confidence in the memecoin’s utility and value.

Gala TRUMP Coin Sparks Sell-Off

The dinner, held at Trump’s National Golf Course, was an exclusive event for major TRUMP coin holders. Access was granted based on a snapshot of wallet balances taken weeks prior. However, many attendees sold their holdings before, during or after the event, emptying their wallets of TRUMP.

The top 220 wallets once qualified for the dinner, but nearly half no longer held the token by the event itself. This mass sell-off suggests that for many investors, the memecoin’s appeal is tied primarily to social engagement rather than financial returns.

TRUMP token holders do not receive equity, dividends, or other traditional financial incentives, according to Trump’s official site. Instead, the coin is described as “an expression of support for, and engagement with, the ideals and beliefs embodied by the symbol $TRUMP and the associated artwork.”

Since its launch, TRUMP has struggled to build real utility. The gala event, which aimed to bolster community enthusiasm, instead highlighted the coin’s limited financial value.

Following the dinner, the memecoin’s price decline underscored skepticism among investors about long-term prospects.

High-profile attendees included Tron founder Justin Sun, who reportedly invested $40 million into TRUMP tokens. He expressed enthusiasm about discussing cryptocurrency with former President Trump.

Other notable figures at the event were Hyperithm CEO Oh Sang-rok, who distributed “Make Crypto Great Again” hats, and Kronos Research’s Vincent Liu, seeking access to US markets.

Despite the event’s spectacle, opposition was strong. Protestors gathered outside, chanting “Shame!” Democratic Senator Jeff Merkley denounced the dinner as the “Crypto Corruption Club,” criticizing the blending of political influence with speculative crypto assets.

Meanwhile, White House Press Secretary Karoline Leavitt denied any personal financial gain by Trump, calling such claims “absurd.”

15% Memecoin Dump

The 15% drop in TRUMP coin value following the gala illustrates the volatility and speculative nature of memecoins tied to political figures.

In comparison, other major crypto assets showed steadier performance, indicating that investor confidence in TRUMP is fragile and heavily event-driven.

With no dividends or equity rights, TRUMP coin’s market value largely depends on its cultural and political symbolism rather than fundamentals.

The sell-off by 40% of top holders signals that many investors may be taking profits or distancing themselves amid growing scrutiny.

Trump coin’s sell-off post-event serves as a case study in the risks associated with politically linked cryptocurrencies. While memecoins can rally significant short-term attention, sustaining investor interest requires clearer utility and broader adoption.

As of May 25, 2025, TRUMP coin remains a niche token with high volatility and an uncertain future. The gala’s fallout and market reaction provide insight into the challenges of balancing political branding with crypto market demands.

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