Traders are continuing to offload their holdings of the TRUMP memecoin after its recent dinner announcement. Blockchain analytics firm Nansen reported over $869 million in outflows and $96 million in inflows over the past week. The token saw significant movement after Trump announced a dinner and White House tour for the top TRUMP token holders. However, more people appear to have sold off their tokens than new buyers entered the market.

The identities of many top holders remain unclear, though some speculate that individuals like Tron founder Justin Sun might be among them. Critics have raised concerns about potential conflicts of interest due to the Trump family’s involvement with the coin, and there is ongoing speculation about the possibility of a rug-pull, with the team behind the TRUMP token controlling 80% of its supply. Despite the volatility, a few new wallets have entered the top 250 holders.

The $TRUMP memecoin, launched before Trump’s presidency, has attracted attention due to its connection to Trump and his family, with previous NFT-based events and ongoing questions about the nature of the investment.