Trump's Dinner Plan Exposed: Sincere Hospitality or Something Else?
The "TRUMP DINNER" hosted by Trump is set to take place on May 22 in Washington, D.C. According to public information, the event plans to invite the top 220 TRUMP token holders to participate, with the top 25 holders receiving a chance to attend a private VIP reception with Trump, followed by a special VIP tour of the White House the next day. Trump himself will attend as a guest and is reportedly not fundraising during the event.
!7365228
This message inevitably brings to mind the recent token unlocking event: on April 18, TRUMP unlocked 40 million tokens, worth about $300 million, accounting for 20% of the circulating supply. With the timing so close, one can't help but wonder: a large-scale unlock followed by a "thank you" dinner, is this a sincere appreciation for supporters, or is there something more behind it?
!7365229
After the announcement of the dinner news, the price of TRUMP quickly soared, reaching a high of $14.37, and as of the time of writing, the price is $12.37, an increase of over 33%.
!7365232
Market Whales Act Swiftly
Data monitoring shows that after the dinner announcement was made, an investor immediately invested 5 million USDC to purchase 407,467 TRUMP tokens at a unit price of $12.27. Even more surprising is that this investor sold all holdings for a total price of $5.73 million in less than half an hour, making a profit of approximately $731,800 in a short period.
!7365230
Another long-term liquidity provider acted quickly, withdrawing liquidity from two wallets, obtaining 211,977 TRUMP (approximately $2.76 million) and 18,376 SOL (approximately $2.76 million). These two wallets have now entered the top 220 holders, giving them a chance to receive a dinner invitation. Notably, this investor initially purchased 332,424 TRUMP at a price of $2.41 (approximately $802,000) and provided liquidity. At the peak of the token price, these holdings were worth over $24 million.
!7365246
However, not all investors seized the opportunity. On-chain analysis shows that an investor liquidated their position about 20 hours before the positive news was released, making only $483,000 in profit. If that investor had continued to hold until after the news was released, the theoretical profit could have been as high as $4.28 million.
!7223869
Can TRUMP Token Turn the Tide?
From a long-term performance perspective, the overall trend of the TRUMP token has been disappointing. Although it soared to over $75 on its first day of listing, investors quickly noticed the issues of high concentration of the token and a short exercise period, leading to a rapid price drop. After its launch on January 17, the market capitalization briefly reached about $15 billion, but by January 20, it plummeted by more than 50%. Considering that 80% of the supply was allocated to the founders and related entities, the current market capitalization of $2.6 billion is questionable.
!7365247
Although this dinner event has stimulated short-term trading volume, a single event is unlikely to fundamentally change the long-term trend of the token. The current price increase is mainly due to a dual influence of market speculation and specific sentiment factors. In the long run, unless the concerns of investors regarding token unlocking are effectively addressed, it will be difficult to reverse its ongoing lackluster market performance.
!7365240
More Than Just Tokens: Trump's NFT Strategy
The terms of the event state that if the dinner is canceled or Trump fails to attend, eligible TRUMP holders will receive a limited edition NFT as compensation. This indicates that Trump is not only focused on the Meme coin market but is also continuing to promote the development of NFT projects.
!7365241
In fact, Trump started to venture into the NFT space as early as his campaign. On May 8, 2024, he hosted an NFT dinner at his Mar-a-Lago resort in Florida, inviting buyers who purchased at least 47 "MugShot Edition" NFTs to attend. The series consists of 100,000 NFTs, priced at $99 each, and purchasing 47 (about $4,653) grants the opportunity to dine with Trump. At the time, Trump expressed his support for cryptocurrencies and promised to end America's hostility towards digital currencies, which was a stark contrast to his previous critical stance.
Trump's first NFT was issued in December 2022, when 45,000 digital cards themed around him were released, featuring images of him as a superhero, astronaut, and western sheriff, among others. These NFTs are built on the Polygon blockchain, with a standard price of $99 each. Users who purchase 45 cards can receive tickets to an NFT dinner. According to market data, all NFTs sold out in about 12 hours. In March 2023, when Trump faced legal investigations, the price of these NFTs skyrocketed to nearly $1,700.
In April 2023, the Trump team launched the second series of digital trading cards, maintaining a price of $99 each, and sold out within 5 hours of release, generating approximately $4.6 million in revenue.
!7365242
Conclusion
Trump seems to be operating two business lines simultaneously: the TRUMP token and NFTs. While it remains to be seen whether these projects can maintain their popularity in the long term, the short-term price increase and media attention have already brought significant benefits. Regardless of how the token price fluctuates in the future, this marketing strategy that combines crypto assets with celebrity influence has undoubtedly sparked a strong reaction in the market.
The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
TRUMP dinner triggers Token surge of 33%, Whale profits $730,000 in half an hour.
Trump's Dinner Plan Exposed: Sincere Hospitality or Something Else?
The "TRUMP DINNER" hosted by Trump is set to take place on May 22 in Washington, D.C. According to public information, the event plans to invite the top 220 TRUMP token holders to participate, with the top 25 holders receiving a chance to attend a private VIP reception with Trump, followed by a special VIP tour of the White House the next day. Trump himself will attend as a guest and is reportedly not fundraising during the event.
!7365228
This message inevitably brings to mind the recent token unlocking event: on April 18, TRUMP unlocked 40 million tokens, worth about $300 million, accounting for 20% of the circulating supply. With the timing so close, one can't help but wonder: a large-scale unlock followed by a "thank you" dinner, is this a sincere appreciation for supporters, or is there something more behind it?
!7365229
After the announcement of the dinner news, the price of TRUMP quickly soared, reaching a high of $14.37, and as of the time of writing, the price is $12.37, an increase of over 33%.
!7365232
Market Whales Act Swiftly
Data monitoring shows that after the dinner announcement was made, an investor immediately invested 5 million USDC to purchase 407,467 TRUMP tokens at a unit price of $12.27. Even more surprising is that this investor sold all holdings for a total price of $5.73 million in less than half an hour, making a profit of approximately $731,800 in a short period.
!7365230
Another long-term liquidity provider acted quickly, withdrawing liquidity from two wallets, obtaining 211,977 TRUMP (approximately $2.76 million) and 18,376 SOL (approximately $2.76 million). These two wallets have now entered the top 220 holders, giving them a chance to receive a dinner invitation. Notably, this investor initially purchased 332,424 TRUMP at a price of $2.41 (approximately $802,000) and provided liquidity. At the peak of the token price, these holdings were worth over $24 million.
!7365246
However, not all investors seized the opportunity. On-chain analysis shows that an investor liquidated their position about 20 hours before the positive news was released, making only $483,000 in profit. If that investor had continued to hold until after the news was released, the theoretical profit could have been as high as $4.28 million.
!7223869
Can TRUMP Token Turn the Tide?
From a long-term performance perspective, the overall trend of the TRUMP token has been disappointing. Although it soared to over $75 on its first day of listing, investors quickly noticed the issues of high concentration of the token and a short exercise period, leading to a rapid price drop. After its launch on January 17, the market capitalization briefly reached about $15 billion, but by January 20, it plummeted by more than 50%. Considering that 80% of the supply was allocated to the founders and related entities, the current market capitalization of $2.6 billion is questionable.
!7365247
Although this dinner event has stimulated short-term trading volume, a single event is unlikely to fundamentally change the long-term trend of the token. The current price increase is mainly due to a dual influence of market speculation and specific sentiment factors. In the long run, unless the concerns of investors regarding token unlocking are effectively addressed, it will be difficult to reverse its ongoing lackluster market performance.
!7365240
More Than Just Tokens: Trump's NFT Strategy
The terms of the event state that if the dinner is canceled or Trump fails to attend, eligible TRUMP holders will receive a limited edition NFT as compensation. This indicates that Trump is not only focused on the Meme coin market but is also continuing to promote the development of NFT projects.
!7365241
In fact, Trump started to venture into the NFT space as early as his campaign. On May 8, 2024, he hosted an NFT dinner at his Mar-a-Lago resort in Florida, inviting buyers who purchased at least 47 "MugShot Edition" NFTs to attend. The series consists of 100,000 NFTs, priced at $99 each, and purchasing 47 (about $4,653) grants the opportunity to dine with Trump. At the time, Trump expressed his support for cryptocurrencies and promised to end America's hostility towards digital currencies, which was a stark contrast to his previous critical stance.
Trump's first NFT was issued in December 2022, when 45,000 digital cards themed around him were released, featuring images of him as a superhero, astronaut, and western sheriff, among others. These NFTs are built on the Polygon blockchain, with a standard price of $99 each. Users who purchase 45 cards can receive tickets to an NFT dinner. According to market data, all NFTs sold out in about 12 hours. In March 2023, when Trump faced legal investigations, the price of these NFTs skyrocketed to nearly $1,700.
In April 2023, the Trump team launched the second series of digital trading cards, maintaining a price of $99 each, and sold out within 5 hours of release, generating approximately $4.6 million in revenue.
!7365242
Conclusion
Trump seems to be operating two business lines simultaneously: the TRUMP token and NFTs. While it remains to be seen whether these projects can maintain their popularity in the long term, the short-term price increase and media attention have already brought significant benefits. Regardless of how the token price fluctuates in the future, this marketing strategy that combines crypto assets with celebrity influence has undoubtedly sparked a strong reaction in the market.