Trump's coin has dropped by 15% since the Gala: 40% of wallets are getting rid of their holdings
The controversial memecoin of President Donald Trump, TRUMP coin, plummeted by 15.23% after a high-profile gala dinner on May 22.
Since then, the token has fallen from $14.90 to $12.63 overnight, ranking among the worst-performing assets among the top 100 cryptocurrencies.
Data from chain analytics and wallet trackers show that approximately 40% of the top 220 wallets holding TRUMP disposed of their tokens during or after the event, indicating a loss of confidence in the utility and value of the memecoin.
