Moon5labs
--
Trump Memecoin Frenzy: Winners Cashed Out Millions, Loyalty Didn't Last Long
A competition offering a dinner with Donald Trump to top holders of his memecoin $TRUMP quickly turned into a money-making race. While the 25 biggest holders secured VIP invitations to a formal dinner, most of them sold off their tokens shortly after. For many, it was a high-stakes trade — and a very profitable one.
🥩 Dinner with Trump? For Most, Just a Ticket to Profit
The contest, launched on April 23, ended on May 12. During that time, hundreds of wallets raced to collect as many tokens as possible. The top 25 wallets with the highest $TRUMP balance would win a dinner spot with the former U.S. president. Following the announcement, the coin price surged from $9.26 to $15.33.
But once the snapshot was locked, 16 of the 25 winning wallets sold off their holdings almost immediately — despite official calls to “Hold strong. Hold $TRUMP.”
Winners received more than just dinner — some also got custom Trump watches, private tours, and exclusive receptions. But for many, that was the end of their relationship with the coin.
📈 Wallets Created for the Contest — and Gone Just as Fast
An analysis by Financial Times found that 22 of the 25 winning wallets didn’t exist before the contest began. Many of them were created specifically to win, then promptly cashed out after securing the dinner invite.
One of the biggest players was a wallet labeled “Woo,” which deposited over 1 million tokens. The entry value was $10.8 million, and by the time of sale it was worth $13.3 million, giving Woo a profit of up to $2.6 million.
Another trader, “NACH,” made an estimated $52,000, while the wallet “GAnt” reportedly lost nearly $1 million in an attempt to win — without any clear signs of recouping the loss.
🕵️ Justin Sun Suspected Behind Massive Losses
One wallet labeled “SUN” bought 1 million $TRUMP tokens, including 800,000 at $61.13 per token — far above the current price of $12.96. This wallet is suspected to belong to Justin Sun, a well-known Chinese crypto investor, due to its name, timing, and links to the HTX exchange, where Sun serves as an advisor.
Sun declined to comment when asked by FT. Still, that wallet may now face losses exceeding $66 million — despite winning one of the four custom watches handed out during the contest.
🧾 Post-Contest Exodus: Wallets Quickly Emptied
Among 195 additional winners who earned general admission to the dinner, 56 wallets sold their tokens right after the contest ended. Though wallet nicknames were published on the coin's website, none of the identities are verified, and no real names have been confirmed, aside from speculation about Sun’s involvement.
💡 Summary: $TRUMP Was a Golden Ticket — Then Quickly Forgotten
The memecoin contest turned into a fast-paced speculative game. Buy in, accumulate, lock your spot, sell, exit. There was no emotional attachment, no ideological belief — just short-term profit. The competition highlighted how quickly speculative projects can be flipped for gains and abandoned once the prize is secured.
#TrumpCrypto , #memecoin , #CryptoInvesting , #CryptoMarket , #TRUMP
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
🥩 Dinner with Trump? For Most, Just a Ticket to Profit
The contest, launched on April 23, ended on May 12. During that time, hundreds of wallets raced to collect as many tokens as possible. The top 25 wallets with the highest $TRUMP balance would win a dinner spot with the former U.S. president. Following the announcement, the coin price surged from $9.26 to $15.33.
But once the snapshot was locked, 16 of the 25 winning wallets sold off their holdings almost immediately — despite official calls to “Hold strong. Hold $TRUMP.”
Winners received more than just dinner — some also got custom Trump watches, private tours, and exclusive receptions. But for many, that was the end of their relationship with the coin.
📈 Wallets Created for the Contest — and Gone Just as Fast
An analysis by Financial Times found that 22 of the 25 winning wallets didn’t exist before the contest began. Many of them were created specifically to win, then promptly cashed out after securing the dinner invite.
One of the biggest players was a wallet labeled “Woo,” which deposited over 1 million tokens. The entry value was $10.8 million, and by the time of sale it was worth $13.3 million, giving Woo a profit of up to $2.6 million.
Another trader, “NACH,” made an estimated $52,000, while the wallet “GAnt” reportedly lost nearly $1 million in an attempt to win — without any clear signs of recouping the loss.
🕵️ Justin Sun Suspected Behind Massive Losses
One wallet labeled “SUN” bought 1 million $TRUMP tokens, including 800,000 at $61.13 per token — far above the current price of $12.96. This wallet is suspected to belong to Justin Sun, a well-known Chinese crypto investor, due to its name, timing, and links to the HTX exchange, where Sun serves as an advisor.
Sun declined to comment when asked by FT. Still, that wallet may now face losses exceeding $66 million — despite winning one of the four custom watches handed out during the contest.
🧾 Post-Contest Exodus: Wallets Quickly Emptied
Among 195 additional winners who earned general admission to the dinner, 56 wallets sold their tokens right after the contest ended. Though wallet nicknames were published on the coin's website, none of the identities are verified, and no real names have been confirmed, aside from speculation about Sun’s involvement.
💡 Summary: $TRUMP Was a Golden Ticket — Then Quickly Forgotten
The memecoin contest turned into a fast-paced speculative game. Buy in, accumulate, lock your spot, sell, exit. There was no emotional attachment, no ideological belief — just short-term profit. The competition highlighted how quickly speculative projects can be flipped for gains and abandoned once the prize is secured.
#TrumpCrypto , #memecoin , #CryptoInvesting , #CryptoMarket , #TRUMP
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
