The TRUMP token extended its downward spiral, falling 21.5% in 24 hours and erasing approximately $161 million in market capitalization. Analyst Ash Crypto linked the crash to large-scale token deposits by the Trump team into exchanges.
$46M Deposit Wave Triggers Sell-Off
According to Ash Crypto, the Trump team moved $46 million worth of TRUMP tokens to exchanges over three weeks, coinciding with increased selling pressure before a crypto conference hosted by Donald Trump at his Mar-a-Lago club. The analyst described the move as a classic "sell the rumor" event. The token has now plunged 96.5% from its peak, removing $18.1 billion in market value and hovering near its lowest levels since launch.
Weakened Demand Despite VIP Event
Trump hosted the top 297 token holders at Mar-a-Lago, including a keynote address and a private VIP reception for the top 29 participants. However, Nansen data cited by Reuters shows that contest participants collectively held only about $29 million in tokens, down sharply from $148 million during the 2025 contest. Analysts noted significantly weaker demand compared to the earlier launch phase.
Trump Family Gains vs. Retail Losses
Reuters reported that the Trump family earned over $1 billion from crypto-related activities, including at least $336 million from meme coin sales in early 2025. Meanwhile, retail buyers have seen their holdings decline sharply. Separately, blockchain data linked the top wallet to Justin Sun, who recently sued World Liberty over frozen assets. CEO Zach Witkoff dismissed the claims as meritless, citing user protection measures.