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Trust Is Lost: Crypto Elite Dumps Trump’s Coin Despite Million-Dollar Dinner on the Horizon
The President’s own supporters are fleeing his memecoin, revealing a surprising weakness in an otherwise loyal base.
From Praise to Skepticism in Just Days
An exclusive dinner with Donald Trump should be incentive enough.
Nonetheless, nearly half of the invited participants have chosen to dispose of their TRUMP coins, even though it was precisely the investment in this cryptocurrency that secured them access to the dinner.
According to an analysis by WIRED, a total of 100 out of the 220 participants have been selling or moving their holdings since the competition ended on May 12 – including 17 of the 25 VIP participants.
Tickets to Dinner with a 4 Million DKK Price Tag
To secure a place at the table, participants needed to have purchased at least 4,196 TRUMP coins, equivalent to approximately 370,000 Danish kroner.
The most dedicated VIP guests had invested an average of over 30 million kroner.
One of the most notable transactions came from the user “Woo”, who purportedly secured a profit of around 2.5 million dollars when they transferred their entire holding to Binance, presumably for sale.
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Investors Do Not Believe in the Project
The reaction from participating crypto investors indicates a fundamental lack of confidence in TRUMP as a long-term investment. “Earlier, there was speculation in a coin without utility. Now, there’s speculation in access to Trump,” Nathan van der Heyden from Aragon told WIRED.
Although the organizers attempted to stop the bleeding by promising a rare NFT and an upcoming loyalty program to those holding on to the coins, this clearly hasn’t shifted the trend.
A Shimmer That Dulls
The limited price drop of the TRUMP coin – from $14.59 to $12.86 – suggests the market is still keeping the door open for potential future benefits.
Nevertheless, it is notable that even loyal Trump supporters quickly cash in when the opportunity arises.
It sends a signal that confidence in the project’s long-term vision is far from robust.
Our team may have used AI to assist in the creation of this content, which has been reviewed by our editors.
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