jakiro
Deng Tong, Bitchain Vision
Trump wants to host the top brother on the list?Is it a real banquet or a leek?
According to TRUMP MEME, Trump’s “TRUMP DINNER” dinner will be held in Washington on May 22.The event will invite the top 220 TRUMP token holders, and the top 25 token holders will enjoy a private VIP reception with Trump and participate in a special White House VIP tour the next day.Trump will attend the dinner as a guest and will not raise any funds.
This incident reminds people of the $300 million TRUMP unlock not long ago: On April 18, TRUMP unlocked 40 million tokens, worth about $300 million, accounting for 20% of the circulation.After reading it, I couldn’t help but sigh: TRUMP is unlocked, and the king of the back foot will immediately “invitation” to the top of the list.Is this a “thank you” banquet, or a “Hongmen Banquet” that “please come into the trap”?
Once the news of the Trump dinner event was announced, TRUMP prices soared to a maximum of $14.37. As of press time, TRUMP was at $12.37, up more than 33%.
The whale is ready to move
According to Loonchain monitoring, a whale spent $5 million to buy 407,467 TRUMPs for $12.27 after news about the TRUMP dinner was released.
The giant whale then sold 407,467 TRUMPs for a total of $5.73 million in less than half an hour, making $731,800 in less than 30 minutes.
Another long-term TRUMP liquidity provider removed liquidity from 2 wallets at around 8 a.m. this morning, receiving 211,977 TRUMPs ($2.76 million) and 18,376 SOLs ($2.76 million).Both wallets are now among the top 220 holders, giving them a chance to get an invitation to 2 TRUMP dinners.The man bought 332,424 TRUMPs ($802,000) on the day of the listing and increased liquidity.At peak, these tokens are worth more than $24 million.
However, some giant whales are not so lucky.According to on-chain analyst Yu Chen, a TRUMP token investor cleared his position about 20 hours before the release of good news, making only $483,000, and if the position is held until the release of the news, his theoretical income would have reached $4.28 million.
Can TRUMP still bring back the dead?
Judging from its long-term performance since its launch, TRUMP is disappointing.After soaring above $75 on the day of issuance, its gains quickly took off as investors noticed the tokens were highly concentrated and the exercise period was short. After the token was launched on January 17, its market value once rose to about $15 billion, but it plummeted by January 20.Given that 80% of the supply is allocated to the founders and entities controlled by Trump, it is difficult to justify Trump’s current market cap of $2.6 billion.
TRUMP official market value (USD).Source: CoinMarketCap
Although Trump’s whole work has driven short-term trading volume, it is difficult for currency price to have substantial changes in price fluctuations due to a certain dinner.The current surge is a market trend achieved under the dual support of market speculation and Trump’s “selling feelings”.In the long run, unless TRUMP can alleviate investors’ concerns about token unlocking, it will be difficult to reverse its long-lasting bland trend.
Not just Meme coins, can Trump make NFTs great again?
TRUMP official terms and conditions show that President Trump may be absent. If the dinner is cancelled or he fails to attend, eligible TRUMP holders will be issued a limited edition NFT as a replacement.
In this way, Trump’s dinner will not only drive TRUMP Meme coins, but will also make Trump-themed NFTs attract more attention.
In fact, Trump tried to “make NFT great again” long before Trump was elected for the second time.
On May 8, 2024, Trump held an NFT dinner at the Maarago Resort in Palm Beach, Florida.Buyers who purchased at least 47 Trump’s “MugShot Edition” (big headshot) NFT were invited to attend.There are 100,000 NFTs in this series, of which 99,000 are available for purchase, 1 is $99. If you purchase 47 ($4,653) in a single transaction, you can get the opportunity to have dinner with Trump.At that time, Trump announced a vigorous embrace of cryptocurrencies and promised to end the U.S. hostility to digital currencies, which changed significantly from his previous criticism of cryptocurrencies.
(Photo taken by NFT dinner)
(MugShot Edition series NFT)
Trump’s NFT release dates back to December 2022, when 45,000 cards were issued, including his image as a superhero, astronaut, the West Sheriff and a range of other fantasy characters.These NFTs are cast on Polygon, and the standard version cards are sold for $99 each.Customers who purchase 45 cards can get tickets to an NFT dinner.All 45,000 NFTs sold out in about 12 hours at the time, according to OpenSea.In March 2023, when Trump was indicted during an investigation by a Manhattan district attorney, the price of NFT soared, with a maximum selling price close to $1,700.
On April 19, 2023, the Trump team launched the second series of Trump digital transaction cards, maintaining a price of $99, and sold out 5 hours after the issuance, with a revenue of $4.6 million.
Conclusion
Although I don’t know how much NFT can make King Ming’s profit, it is obvious that Trump has TRUMP Meme and NFT.It doesn’t matter whether TRUMP and NFT can continue to be great. It is enough to have a surge in the short term and the exposure of popularity.
Attachment: A brief list of the current holdings of the top 30 TRUMP token holders
