We are living in crazy times. Imagine being told just a few months ago that the President of the United States would have his own meme token. Moreover, that this meme token would surge to a market capitalization of over a billion dollars before plummeting by 90% within a few weeks.
Or that the same president, who was once against the industry, would praise the token on his social media channels. Or that he would invite the 220 largest holders of that token to dinner with him.
Well, it is 2025, and all of this has happened in the last three months. Information about the dinner was released yesterday, which of course caused the Trump token to rise. It fell to $9 after reaching a peak of nearly $80 following its launch in January. Yesterday, it jumped to over $16 within minutes as individuals tried to catch the news momentum.
However, this is clearly a whale game as most of the large purchases were worth millions of dollars. Or perhaps even insiders, for which the project has been accused before.
Some used the hype itself, likely with little or no intention of attending the actual dinner. One individual spent 5 million USDC to buy 407,467 Trump tokens at a price of $12.27, only to sell and realize a profit of $732,000 in less than 30 minutes.
There is also one ‘sad’ story described by Lookonchain. The analytics platform wrote on X that one entity sold all 630,339 Trump tokens just before the news of the dinner, missing out on a potential profit of over $4.5 million.
