Dinner With Trump Sends Memecoin Soaring – Then Crashing

The top 220 token holders were promised a seat at the May 22 event at his Virginia golf club — a deadline that triggered nearly $2 billion in token purchases.But the hype didn’t last. Blockchain data shows that over 30 major holders dumped their positions just hours after qualifying, prompting a sharp price dip before a partial rebound. Traders appear to have used the dinner invite as an exit strategy, a move common in speculative crypto markets.Critics say the model raises ethical concerns, as paying for access via an unregulated token blurs the line between campaign hype and influence-peddling. The token’s rapid rise and fall also renewed debates about how crypto sits in regulatory gray zones when tied to public figures. .dark-mode .read-more {background-color: #343a40 !important;} READ MORE: Why Bitcoin Could Outshine Wall Street: Pantera CEO Explains Despite the controversy, the Trump Organization and partners reportedly earned over $320 million in trading fees since the token’s launch, including more than $1 million after the dinner promo alone. One wallet linked to HTX exchange holds $14.6 million in tokens — securing the top seat at the table.The post Dinner With Trump Sends Memecoin Soaring – Then Crashing appeared first on Coindoo.