Event invitation finalized, investors are selling off TRUMP tokens
TRUMP token declines
According to disclosed data, this sudden price drop is more due to the selling trend of core investors rather than normal market fluctuations. Cryptocurrency analyst Few observed that on-chain dynamics indicate that many asset holders are selling their tokens, and that the selling momentum further accelerated after the deadline for dinner participation ended.
Due to the end of the participation period, people closed all Trump dollar hedge positions and sold part of the tokens. — Few
220 TRUMP token investors were invited to an exclusive dinner scheduled for May 12. It was reported that just before this date, some investors shorted the token, betting on its price decline.
Analysis of on-chain transactions shows that financing rates turned negative. Essentially, this drop is related to the demand reversal triggered by the dinner event.
Dinner with Donald Trump
As the event on May 22 approaches, concerns about the token value possibly declining further have also arisen. Analyst Few commented that despite a large number of short positions, the token price is expected to stabilize at a certain level, although the token needs new features to maintain its value.
Despite growing interest in the event, it also faces numerous criticisms. Among these, the intertwining of politics and personal interests has drawn much scrutiny, and the fact that some top token holders are not U.S. citizens has sparked discussions about their potential external influence.
The participation of foreign investors like TRON founder Justin Sun highlights the internationalization of this dinner. The presence of many foreign top guests provides an important discussion topic for the Democrats. Although the bipartisan support for GENIUS by the committee is encouraging, the voting results last week led the Democrats to withdraw their support, highlighting Trump's personal interests in the cryptocurrency sector.
The recent sharp decline in TRUMP token prices is related to the establishment of participation standards for the event and the decrease in investors' expectations after the event. Analysts believe that potential new features or developments could impact the price. While the high participation of the dinner has maintained interest in the token, the nationality of the participants remains a controversial topic. Investors are advised to remain cautious regarding the price fluctuations and speculative behavior of the token.
