TRUMP has lost over $50 million daily since VIP dinner
Since President Donald Trump’s exclusive dinner on May 22 for top holders of his meme coin, Official Trump (TRUMP), the token has recorded a steady outflow of capital. On the day of the event, TRUMP’s total market cap stood at $3.13 billion. In the lead-up to the dinner, the token had experienced a consistent inflow of capital, largely driven by whales competing for top positions. As of press time on June 11, the market cap has declined to $2.12 billion, a loss of approximately $1.01 billion. This equates to an average daily drop of about $50.5 million over 20 days. TRUMP one-month market cap chart. Source: CoinMarketCap TRUMP’s price has also suffered, falling nearly 30% since the event to trade at $11.08. TRUMP one-month price chart. Source: Finbold Since its controversial January launch, TRUMP has generally moved in tandem with the broader cryptocurrency market. However, the meme coin appears to have lost momentum, failing to rally a...