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Most Trump Crypto Dinner VIPs Have Moved or Dumped Their Coins

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In brief

  • Most TRUMP token VIPs have moved their holdings to centralized exchanges, presumably to sell.
  • The average VIP holdings dropped from $4.78 million at the snapshot to $2.11 million as of Friday.
  • TRUMP is down more than 14% one day after the president’s crypto dinner.

The majority of TRUMP meme coin holders that earned VIP status for President Trump’s exclusive gala dinner held none of the tokens in those wallets by the time they arrived for dinner at Trump National Golf Course on Thursday night. 

On-chain data gathered from Solana block explorer Solscan shows that just eight of the top 25 VIPs maintain a balance of the president’s official Solana meme coin the day after the dinner, with the bulk of registered addresses having transferred tokens to centralized exchanges just days after the May 12 snapshot.

One of those eight wallets belongs to Justin Sun, the Tron network founder who confirmed he held the top spot on the Get Trump Memes leaderboard days before the event. Sun’s wallet, which held 1.43 million TRUMP at the time of the dinner snapshot, still holds just under 1.4 million TRUMP tokens valued at around $18.8 million. 

“As the top holder of TRUMP and proud supporter of President Trump, it was an honor to attend the Trump Gala Dinner,” Sun posted on X early Friday morning. 

The second registered address on the leaderboard, identified as being associated with layer-1 meme coin blockchain MemeCore, maintains its entire balance from the snapshot on May 12, but only three other wallets from the top 10 have any TRUMP tokens. 

The other five all transferred their balances to addresses labeled by Solscan as centralized exchanges like Coinbase and Binance, with one wallet transferring its TRUMP tokens to an account labeled as the Wintermute hot wallet.

While VIPs once held an average around $4.78 million worth of TRUMP tokens, the group’s average holdings now stand at approximately $2.11 million—buoyed in large part by the nearly $37.3 million in combined holdings from the top two holders.



By transferring or selling their tokens, the VIPs without balances will miss out on a limited edition “diamond hand” NFT, only earned by maintaining their leaderboard balances up until the dinner. 

Some VIPs’ willingness to part with their tokens right after the dinner snapshot may lend credence to the argument from lawmakers and other critics that their investments were purely a “pay-for-play” tactic to get close to the president. 

Fears of foreign influence and crypto corruption as a result of the dinner led to protests at the event, plus the introduction of a bill that would keep the president from profiting from crypto ventures. 

Even before the event, Democratic Senators sought an ethics probe over the dinner, citing “severe risk that President Trump and other officials may be engaging in ‘pay-to-play’ corruption by selling presidential access.”

TRUMP is down more than 14% in the last 24 hours to $13.22, nearly 82% off its January all-time high.

Edited by Andrew Hayward

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$670M in Bitcoin Moved to Major U.S. Crypto Exchange In Mere Hours
GameFi Guides

$670M in Bitcoin Moved to Major U.S. Crypto Exchange In Mere Hours

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On May 22, leading U.S.-based crypto exchange Coinbase received large transfers involving a total of 6,016 BTC from multiple unknown whales, according to recent data from on-chain tracking platform Whale Alert.

According to the data source, the massive Bitcoin transfers, worth more than $670 million, were executed consecutively in 13 separate, identical transactions.

The 13 transactions saw transfers made in identical amounts, with different unknown wallets sending 463 BTC to Coinbase 11 times. The remaining two transfers involved 462 BTC and 461 BTC, bringing the total Bitcoin inflow to 6,016 BTC in just a few hours.

Although the tracker could not identify the sender’s address, it revealed that the transactions were made from separate unknown accounts.

Whales dump on Bitcoin Pizza Day?

With the large BTC transfers coming during a major Bitcoin bull run that saw the leading cryptocurrency set new records and hit a new all-time high, the move has sparked discussions among the crypto community.

The timing has caught the attention of market participants as it coincides with the legendary Bitcoin Pizza Day, causing enthusiasts to speculate about the motive behind the transfer.

While the transfers were consistent in size and happened in rapid sequence, there are suggestions that it might be a coordinated activity from a single institution attempting to dump its Bitcoin stash.

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Oftentimes, large transfers to a highly liquid platform like Coinbase have been associated with major players preparing to sell off their assets to take profits after amassing gains from Bitcoin’s upsurge.

While movements like this often negatively influence Bitcoin’s price, the cryptocurrency has remained bullish, trading in the green zone since yesterday. Although the reason behind the massive Bitcoin transfers remains uncertain, it has not directly impacted the asset’s price.

Over the last day, Bitcoin has surged by 4.56%, according to data provided by CoinMarketCap. While it achieved a new high of $111,915 today, the coin is trading at $111,538 as of press time.

Source: CoinMarketCap 

Although market participants expect Bitcoin’s price to remain bullish in the long run, recurring dump activities from whales could slow down its potential to continue rising.



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$23.35 Billion Dogecoin (DOGE) Moved by Whales In Just 24 Hours
Crypto Trends

$23.35 Billion Dogecoin (DOGE) Moved by Whales In Just 24 Hours

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Dogecoin has seen its daily large transaction volume surge massively by 41.12% with whales actively moving large amounts of tokens, according to data from IntoTheBlock.

DOGE whales in action

The data shows that a total 60.9 billion DOGE worth about $23.35 billion have been moved by DOGE’s large transaction holders over the last 24 hours. 

While the broad crypto market has been experiencing mixed actions after cooling off from the recent massive bull run, this notable whale movement suggests that investors are still bullish despite ongoing price corrections.

While large transaction volumes like this indicate increased whale activities on the concerned crypto currency, there are speculations that Dogecoin whales are preparing for something big, possibly anticipating a massive price rally in the near future. 

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Although the major drive behind Dogecoin’s massive large transaction volume remains uncertain, recent trading activities among whales suggests the metric might have been spurred by increased buying activities.

Earlier today, the Dogecoin ecosystem saw a mysterious whale pull out a significant 260 million DOGE from a major U.S.-based brokerage platform, Robinhood, according to a report from U.Today.

While transactions like this often suggest buying activities from whales, the move signals increased demand for Dogecoins among large holders, potentially driving a surge in the price of the token.

Nonetheless, latest data from CoinMarketCap shows that the increased whale activities on DOGE have not had any direct impact on the price performance currently as the leading memecoin have been trading sideways over the last day.

The data shows a decent 0.41% increase in DOGE’s price since the last 24 hours. As such, the token is trading steadily around $0.2252 as of press time.

 

Source: CoinMarketCap

 

Despite the positive surge in DOGE’s large transaction volume, DOGE’s trading volume has remained in red as it has declined by up to 25% since the last day.

While this suggests that market sentiments are shifting, it signals decreased interest for the meme token among retail investors.

This indicates that whales are actively accumulating while retailers are silent, causing investors to be more watchful about DOGE’s on-chain movement and potential performance.



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