- Solana whales dumped over 765,000 TRUMP coins, taking a combined loss of nearly $2.4 million amid growing concerns about an ethics probe linked to the coin’s VIP dinner promotion.
- Solana-based investors are losing confidence as TRUMP struggles to stay above $11 following political backlash and fading hype.
Is TRUMP Coin Cracking Below $10? Signs Point to Trouble
The hype around TRUMP, the memecoin linked to former President Donald Trump, appears to be losing steam — and fast. Over the weekend, two major Solana whales offloaded their TRUMP holdings at a massive loss, raising serious concerns about the token’s short-term trajectory.
Solana Whales Cut Their Losses — and It Wasn’t Pretty
On Sunday, the first major whale sold off 337,560 TRUMP tokens, taking a brutal $1.38 million loss despite having previously netted $196K in profit. The second whale, once $732K in the green, dumped 427,568 TRUMP tokens for a staggering $961K loss. Together, these exits wiped out over $1.4 million in principal value — signaling a dramatic shift in whale sentiment.
Why the Sudden Sell-Off? Ethics Probe and Disappointment Loom
The sell-off followed a steep drop in TRUMP’s price — from $12.72 to $11.38 in just three hours on Saturday. Fueling the panic may be a brewing ethics investigation by Senators Adam Schiff and Elizabeth Warren. The allegations? A potential “pay to play” scheme tied to Trump’s exclusive VIP dinner set for May 22, 2025.
The dinner was supposed to be a major selling point: the top 220 holders get access, with the top 25 receiving a special meet & greet, and the biggest TRUMP holders promised a luxurious tour of Washington, DC. But with political scrutiny and possible legal complications on the horizon, confidence is crumbling.
TRUMP Coin Holds Above $11 — But For How Long?
Despite the drama, TRUMP recovered slightly, posting a 2% gain over 24 hours to hover above $11, per CoinGecko. However, market sentiment remains shaky.
Interestingly, Chainalysis reports that the TRUMP coin team earned nearly $900K in trading fees just two days after announcing the VIP dinner — raising eyebrows about who truly benefits from the hype.
Why It Matters: Politics Meets Crypto — But at What Cost?
As celebrities and politicians embrace crypto, investor risk rises. The TRUMP coin saga shows how quickly sentiment can shift, especially when legal and ethical red flags appear. For retail investors, it’s a cautionary tale: hype fades, but losses last.
