$TRUMP Coin ... Dinner with President Donald Trump "Who Profited, Who Lost, and Why It Matters"
The world of cryptocurrency has witnessed some wild rides, but the recent meme coin saga takes the cake. Launched on January 17, 2025, by none other than US President-elect Donald Trump, this Solana-based token sparked a trading frenzy, with some traders raking in millions while others suffered significant losses.
The Contest: Dinner with Trump ..
In April 2025, Trump announced a contest where the top 25 wallets holding the tokens would win a private gala dinner with him at his golf club in Virginia. The coin's price jumped over 50% after the announcement, from $9.26 to $15.33. But what happened next was astonishing.
The Winners and Losers ..
Many top holders who secured VIP seats at the dinner dumped their coins almost immediately after the contest deadline closed on May 12. Some notable winners include:
- Woo: A wallet named "Woo" transferred 1 million tokens, worth $10.8 million at entry and $13.3 million at exit, making a possible profit of $2.6 million.
- NACH: Another trader, "NACH", made around $52,000 by flipping their stash shortly after the deadline.
- Ogle: A wallet named "ogle" made $4 million in profits from trades before the contest window opened.
However, not everyone was so lucky. One wallet, believed to belong to Chinese crypto investor Justin Sun, bought roughly 1 million tokens at $61.13 each and is now sitting on a potential $66 million loss.
The Impact ..
The launch of $TRUMP propelled Solana's decentralized exchange (DEX) volumes to a record $12.9 billion within 24 hours. The token's market capitalization reached nearly $9 billion within hours of its launch, with some traders turning $1 million into $2 million or even $70 million in a matter of hours.
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