The price of the $TRUMP meme coin has come under pressure following Donald Trump’s flashy “crypto dinner.” Despite initially soaring 43% after the May 23, 2025 announcement, the coin has since plunged 20%, triggered by a wave of sell-offs from large holders.
📉 Whales Sell Off, Price Plunges
This scenario follows a familiar pattern: buy the rumor, sell the news. Although the price of $TRUMP surged from $9.10 to $16.43 in the days before the event, a sharp reversal hit as soon as the dinner concluded. Blockchain data revealed that several VIP wallets dumped large amounts of tokens in the hours following the event.
According to SOL scan, only 8 out of 25 VIP-eligible wallets held onto their tokens the day after the dinner, dropping the average token value in those wallets from $4.78 million to $2.11 million.
📊 Slight Recovery Amid Online Frenzy
Despite the weekend sell-off, the price rebounded slightly to $12.76 (+2.35%) on Monday. The recovery was accompanied by over 18,100 social media mentions, and social dominance rose by 3.94%, according to LunarCrush — showing that online chatter around the coin remains high, though not always favorable.
🍽 Crypto Dinner Under Fire: “Million-Dollar Meal Tastes Like Assembly Line Food”
One of the biggest talking points became the food itself. Photos from the dinner, held at Trump’s private golf course, sparked outrage — with many comparing the meals to economy-class airline food, despite the reported $1 million-per-plate price tag.
Investor and influencer Nicholas Pinto, who invested $300,000 into $TRUMP,** didn’t hold back: “The worst meal I’ve ever had on a Trump golf course.”
⚖️ Legal Heat Mounts, Lawsuits Looming
Beyond bad reviews, Trump now faces potential legal consequences. Congress, watchdogs, and regulatory bodies are raising alarms over whether the former president misused his position to promote a personal meme coin project.
Democratic Senator Richard Blumenthal called the event a “sale of White House access” in exchange for tokens. A new bill introduced in the Senate could bar Trump’s administration from leveraging presidential status to push crypto ventures.
📜 Open Letter and Conflict of Interest Warnings
An additional 35 members of Congress signed an open letter to the Department of Justice, demanding an immediate investigation into the Thursday dinner. They cited possible constitutional violations and pointed to a conflict of interest, noting that Trump had appointed crypto allies to lead the SEC — potentially influencing ongoing investigations into several crypto firms.
🔚 Conclusion: Hype Fades Fast Without Real Utility
Trump Coin is a textbook case of a meme token riding hype without long-term value. Events like the “crypto dinner” may temporarily boost excitement, but without substance, they often lead to sell-offs and volatility. Unless the project provides real utility, such moments may prove to be fleeting spikes followed by steep drops.
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