🔥Most whales sold Trump after the special evening party at Trump National Golf Club

Although the investors were invited to attend due to their high ranking on the Get Trump Memes leaderboard, on-chain data shows that only 8 out of the top 25 VIP wallets still held tokens the next day.

Many wallets transferred tokens to centralized exchanges like Binance and Coinbase, possibly to cash out. The average value of the TRUMP tokens held by VIPs has sharply decreased from $4.78 million at the time of the snapshot on May 12 to $2.11 million. This decline is even more pronounced as the majority of the current value comes from the top two wallets, including Justin Sun's wallet, which still holds nearly 1.4 million TRUMP worth approximately $18.8 million.

The fact that many sold off immediately after qualifying for the event suggests that their investment motive may have simply been to gain access to President Trump, which has drawn severe criticism from the public and political circles. Some Democratic lawmakers have even called for an ethics investigation and proposed legislation to prevent the President from profiting from cryptocurrency. The party also faced protests due to concerns about foreign influence and corruption in the crypto industry.

Additionally, those who sold tokens early missed the opportunity to receive the limited edition “diamond hand” NFT reward only available to those who maintained their ranking on the leaderboard until the time of the party.

Currently, the price of the TRUMP token has dropped over 14% just one day after the event, and is down by as much as 82% compared to the peak in January.