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Dinner with the President: Whales Go Crazy as TRUMP Coin Skyrockets
We live in wild times. Imagine being told just several months ago that the POTUS will have his own meme coin. Or, that meme token would skyrocket to a multi-billion-dollar market cap before it plunges by 90% within weeks.
Or that the same president, who used to be against the industry, would praise the coin on his social media channels. Or, that he will invite the top 220 holders of that said meme to have dinner with him…
Well, it’s 2025, and all of that happened in just the past three months. The dinner information went out yesterday, sending the token flying. It had declined to $9 after peaking at almost $80 following the January launch, but shot up to over $16 within minutes as investors rushed to get in on the hype.
The price uptick resulted in TRUMP charting a seven-week high. However, this is obviously a whales’ game since most of the big purchases were worth millions of dollars. Or, maybe even insiders, something of which the project has been accused of before as well.
Some used only the hype, with probably little to no intention of attending the actual dinner. This whale spent $5 million USDC to buy 407,467 TRUMP at $12.27 only to sell the stash off for a $732K profit within less than 30 minutes.
There’s also one ‘sad’ story as described by Lookonchain. The analytics platform said one entity dumped all 630,339 TRUMP tokens just before the dinner news. As such, they missed out on a potential profit of over $4.5 million.