Overview

During the exclusive dinner for major investors of the TRUMP meme coin in the U.S. on Thursday night, May 22, 2025, an attendee launched a Solana meme coin called Trump Dinner (DINNER) through the Pump.fun platform. However, this token quickly failed, only reaching a peak market cap of 450,000 USD before collapsing 89% in value, leading the community to criticize intensely. This article summarizes the event, reasons for failure, impact on the crypto market, and lessons for investors in the U.S.

Failed meme coin launch event

The crypto dinner hosted by President Trump was an exclusive event for the 220 largest investors of the meme coin #TRUMP , with an average 'VIP' ticket worth 4.8 million USD in TRUMP tokens. While Trump was speaking, an attendee used Pump.fun to launch the DINNER token on the Solana blockchain, simultaneously posting a video of the event in the token's Telegram group. The video shows this person holding a phone displaying Russian text, creating the token right on the spot.

The initial token #DINNER attracted attention due to the exclusive context of the event, leading traders on Pump.fun to expect this to be a project of a crypto 'whale' with the potential to reach a market cap of millions of USD. However, the token only reached a peak market cap of 450,000 USD before dropping 89% within minutes. The community quickly labeled the launch as a 'scam' and demanded 'imprisonment'.

Reasons for failure include:

  • Concentrated supply: The launcher owns nearly 10% of the total token supply, double the acceptable level in the meme coin community.

  • Abnormal supply accumulation: TrenchBot shows that 44% of the tokens were distributed across multiple wallets, creating an illusion that no one controls too much, raising doubts about transparency.

After posting four videos related to the dinner, including a clip of Trump dancing to the music 'YMCA', the launcher promised to send 5% of the supply to the official TRUMP project's wallet to appease the community. However, they mistakenly sent it to their own wallet, causing the token to temporarily spike 118% to a market cap of 137,920 USD, then collapse 45% to 76,100 USD. An anonymous trader, Cloxes, expressed frustration on X, stating they lost 4,000 $SOL and demanded a trace of the launcher.

Impact on the crypto market

The incident highlights the risks of meme coins, especially on platforms like Pump.fun, where tokens are easy to create but lack transparency. In the U.S., where meme coins like TRUMP are gaining attention, the failure of DINNER serves as a warning about risky speculation. The price of Solana (SOL) remains stable at 180 USD (according to CoinMarketCap, 05/24/2025), but smaller meme tokens like DINNER are easily manipulated, reducing investor confidence. The incident also emphasizes the role of tools like TrenchBot in detecting unusual behaviors, helping to protect the crypto community.

Lessons for investors

The failure of DINNER brings many lessons:

  • Check the supply: Avoid investing in tokens with concentrated or unusually distributed supply.

  • Conduct thorough research: Use Binance, CoinMarketCap to verify project information before trading.

  • Be cautious with meme coins: Tokens like DINNER often rely on events to create hype but are prone to collapse.

  • Use support tools: Tools like TrenchBot help detect risks in crypto projects.

Suggestions for investors

  • Prioritize trading on reputable exchanges like Binance to ensure safety.

  • Thoroughly research meme coin projects, especially in the U.S., where the market is active.

  • Monitor communities and tools like TrenchBot to detect unusual signs.

Risk warning

Investing in cryptocurrencies, especially meme coins, carries high risks due to price volatility and lack of transparency. The information in this article is for reference only and not investment advice. Please conduct thorough research (DYOR) before making any investment decisions.