The recent exclusive gathering dubbed the “Crypto Dinner” has sent ripples through the Trump Coin community, sparking concerns about the token’s future as heavy sell-offs by major holders—often called whales—dragged the price down sharply. Despite a brief surge leading up to the event, the aftermath has left many investors questioning whether Trump Coin’s momentum has stalled or even reversed, potentially sending the meme-based crypto into a downward spiral.
Heavy Whale Selling Follows Crypto Dinner, Tanking Price
The price of Trump Coin experienced a significant rollercoaster last week. After the announcement of the high-profile dinner on May 23, 2025, the token jumped impressively from around $9.10 to a peak of $16.43—a gain of over 43%. However, this bullish run was short-lived. Within hours after the event concluded, blockchain data showed that a majority of the VIP attendees—those who qualified for the invite-only dinner by holding large amounts of $TRUMP—began offloading their tokens.
Blockchain analytics from SOL scan reveal a stark shift in holdings: only 8 out of 25 top wallets that gained VIP access retained their Trump Coins the day after the dinner. The average holdings across these wallets plunged from nearly 4.78 million tokens to just about 2.11 million. This dramatic sell-off has triggered a 20% plunge in Trump Coin’s price, raising questions about whether the dinner served as a final peak rather than a launchpad for further gains.
A Temporary Price Bounce Amid Social Buzz
Interestingly, despite the price drop, Trump Coin saw a slight recovery on Monday with a 2.35% uptick to $12.76. This modest gain coincided with a noticeable rise in social media chatter—over 18,000 mentions—and a near 4% increase in the coin’s social dominance according to data from LunarCrush. This suggests that the token still holds attention within crypto communities, even as traders grow wary.
Criticism Over Event’s High Cost and Quality
The Crypto Dinner itself has not escaped criticism. Many in the crypto space lambasted the event for charging an eye-watering $1 million worth of Trump Coin per plate, only to be served food reportedly “worse than airline meals.” Nicholas Pinto, a business influencer who had invested a significant sum in the coin, publicly described the catering as “the worst food I’ve ever had at a Trump golf course,” underscoring the disconnect between price and value delivered.
Legal and Political Backlash Intensifies
Beyond the token’s price woes, the dinner has stirred serious controversy on Capitol Hill. Several lawmakers and regulatory watchdogs condemned the event, accusing former President Trump of essentially auctioning off access to himself via the meme coin. Democratic Senator Richard Blumenthal has gone so far as to call the dinner a tactic to sell presidential access for tokens, and he, along with 35 other members of Congress, has pushed for investigations into possible violations of constitutional provisions that prohibit presidents from receiving payments or gifts without congressional approval.
In parallel, there are concerns about conflicts of interest, especially given Trump’s appointment of crypto-friendly officials within regulatory bodies like the Securities and Exchange Commission (SEC). Critics argue that such appointments could influence investigations into crypto firms, adding a layer of complexity to the political fallout.
What Lies Ahead for Trump Coin?
The recent events highlight the precarious nature of meme coins that rely heavily on hype and celebrity association rather than fundamental utility. Trump Coin’s surge tied to the Crypto Dinner reflects a classic “buy the rumor, sell the news” scenario, where investor enthusiasm peaks before a significant event, only to dissipate afterward as insiders cash out.
Without tangible use cases or broader adoption, tokens like $TRUMP are vulnerable to rapid sentiment shifts, especially when negative publicity and regulatory scrutiny pile up. While the brief social media revival may keep the coin in conversations for now, sustaining price growth will require more than headline-grabbing dinners and whale movements.
In summary, unless Trump Coin finds fresh catalysts beyond celebrity events, the path ahead looks challenging. The recent sell-offs and mounting legal concerns could push the price into further decline, risking the coin’s slide into irrelevance as investor confidence wanes.
