The worst-performing digital asset within the high 100 as we speak is US President Donald Trump’s memecoin, TRUMP.
Down 15% since final night time’s extremely anticipated dinner gala that drew protests from US constituents, the contentious asset has misplaced a major quantity of utility since yesterday.
Most of the attendees dumped their TRUMP holdings after receiving a dinner invite, which partially defined the hunch.
About 40% of the highest 220 wallets that when held sufficient tokens to qualify for the dinner held no TRUMP through the precise dinner.
House owners of the memecoin don’t obtain any fairness, dividends, or different monetary pursuits in any firm. The highest 220 holders as of a snapshot date that has already handed might qualify for dinner entry.
Going ahead, the coin merely is “an expression of support for, and engagement with, the ideals and beliefs embodied by the symbol $TRUMP and the associated artwork,” based on Trump’s official web site.
At this time the $TRUMP dinner was filled with jeets.
Nearly 1 in 2 individuals who attended was holding 0 tokens.
I checked all 220 wallets to confirm their present balances:
• 92 wallets are actually holding 0 $TRUMP • The whole token stability of the leaderboard earlier than the dinner was 11.3M,… pic.twitter.com/XK8sLU7Z4H
— dethective (@dethective) Could 23, 2025
Expired utility for Trump’s memecoin
Thursday’s dinner at Trump’s Nationwide Golf Course drew a whole bunch of the biggest token consumers. The highest 25 holders for the three weeks of the competition acquired a tour of the White Home.
TRON founder Justin Solar attended the dinner after dropping $40 million to purchase the coin. He expressed eagerness to debate crypto with Trump and mentioned it will be his first time assembly the president.
Hyperithm CEO Oh Sang-rok handed out “Make Crypto Great Again” hats to dinner visitors.
Taiwan-based Kronos Analysis Chief Funding Officer Vincent Liu attended within the hopes of having access to US markets.
The dinner drew its share of opposition, together with a gaggle of protestors outdoors who chanted “Shame!” as attendees arrived. Democratic Senator Jeff Merkley referred to as it “the Crypto Corruption Club.”
White Home Press Secretary Karoline Leavitt denied that non-public corruption by Trump had something to do with the dinner.
“It’s absurd for anyone to insinuate that this president is profiting off of the presidency. This President was incredibly successful before giving it all up to serve our country publicly,” she mentioned.
