The dinner has not yet ended, but the big shots have already liquidated

As Trump raises his champagne at his golf course, the VIPs in the audience, holding their wine glasses, have already emptied their pockets of admission tickets.

On May 24, a black comedy unfolded at a crypto dinner named after Trump. On-chain transaction records do not lie—over 60% of those 'die-hard fans' who received invitations holding TRUMP tokens worth tens of millions of dollars had already cashed out through exchanges before the dinner. Among the top 25 VIPs, only 8 wallets, including Sun Yuchen, are still 'holding the fort,' while the total value of tokens held by the entire elite circle has plummeted from a peak of $120 million to less than $53 million.

Even more interesting is the structure of the existing holdings: Sun Yuchen's 1.4 million TRUMP tokens and 2.3 million tokens from a mysterious address account for 80% of the total existing supply. This so-called 'value consensus' celebration has essentially turned into a capital game propped up by two whales.

The 'On-chain Detective' found clues: within three days after the project team took a 'snapshot' of the holdings on May 12, 17 VIP addresses started a crazy transfer mode. Some precisely executed their last sale right before the night of the dinner, splitting tokens worth $3.8 million into 18 smaller transactions sent to exchanges. This kind of 'flipping the table after the meal' operation is just standard practice in the crypto world 😂