Blockchain analytics firm data revealed that the memecoin experienced over $869 million in outflows and $96 million in inflows during the past seven days.
While the identities of many top holders of US President Donald Trump’s memecoin remain unknown, blockchain data revealed significant outflows over the past seven days, coinciding with his announcement of a dinner and White House tour for select tokenholders.
Blockchain analytics firm Nansen reported on April 25 that the TRUMP memecoin had experienced over $869 million in outflows over the last seven days, compared to around $96 million in inflows among the top 500 changes. Some of these changes followed Trump’s announcement that the top 220 TRUMP holders could apply to meet him at a golf club dinner in Washington, DC, with limited chances for a White House tour.
Nansen noted, “It’s clear that more people took the opportunity to offload their Trump tokens than new buyers entered. However, there still seems to be some interest — either to secure a dinner ticket or capitalize on price volatility. As a result, a few new wallets have entered the top 250 holders, while some previous holders appear to have exited their positions.”
Launched in January before Trump took office, both his memecoin and that of his wife, Melania, have faced criticism from US lawmakers and crypto industry leaders for potential conflicts of interest. As of publication, the identities of many top tokenholders and those who might apply for the dinner remained unknown.
As of April 25, the top tokenholder possessed 1,176,803 TRUMP memecoins, valued at approximately $16 million. The wallet holder, using the username “Sun,” sparked speculation that Tron founder Justin Sun — a Trump supporter and investor in the Trump family-backed crypto firm World Liberty Financial — might be among the dinner attendees. Attempts to reach Sun’s team for comment were unsuccessful at the time of publication.
Other tokenholders included usernames like “elon” and “doge,” though it remained unclear if Tesla CEO Elon Musk, a known Dogecoin advocate, was connected to the project. The team behind the TRUMP token holds 80% of the total supply, leading critics to speculate that Trump or someone in his family could still rug-pull investors.
Ahead of the 2024 election, Trump hosted a similar dinner at his Mar-a-Lago property in Florida for supporters who bought non-fungible tokens featuring his mugshot from his arrest for allegedly trying to overturn the 2020 election results. It remains unclear whether any of the same attendees from the May 2024 event are among the top TRUMP memecoin holders.
