Official Trump (TRUMP) crypto starts to crack after several multi-million transfers were spotted

The Official Trump (TRUMP) crypto started to crack after several multi-million transfers were spotted by the blockchain detective agencies, now leading to a 9.5% deficit in 24 hours.

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Still 33.5% up in monthly terms, Official Trump (TRUMP) might have a hard time staying in double-digit price if the current sell-offs continue to escalate. Chaikin Money Flow (CMF), the best indicator to collect large holder sentiment, dipped below zero on Tuesday afternoon.

Nearly $20M Trump Coins Dished Out To CEXs

The trend switched from bullish to bearish as LookOnChain, a popular blockchain intelligence platform, detected a hefty TRUMP coin sell-off by no other than the coin’s foundational team. According to LookOnChain, the Official Trump (TRUMP) coin team members engaged in a three-fold sell-off across Binance, OKX and Bybit crypto platforms.

A wallet linked to the $TRUMP team deposited 1,346,000 $TRUMP($19.58M) into #Binance, #OKX, and #Bybit 9 hours ago.https://t.co/Mkk5VIjIFW pic.twitter.com/G4cuIBrQVq

In total, TRUMP coin executives sold 1,346,000 TRUMP tokens for $19.58 million. Amid these events, TRUMP crypto price slumped from $14.72 to $13.82 in just half an hour, but the downward slope carried on till the evening, as TRUMP coin price was trading at $13.55 at press time, according to CoinGecko.

Trump Facing Probe For VIP Trump Coin Dinner?

The massive dip from the 7-day peak of $16.03 to $13.55 comes amid American Democratic lawmakers launching an investigation into U.S. President Donald Trump for allegedly breaching federal ethics rules with the Trump dinner invitation. Exclusive to the 200 largest TRUMP coin whales, this fancy list likely includes crypto magnate Justin Sun.

However, latest social media gossip claims that Donald Trump himself won’t be joining the party. Alternatively, it could be postponed or rescheduled while the Democratic probe continues. Presented as “the most EXCLUSIVE INVITATION in the world”, the Trump Dinner message sparked a 90% rally in 3 days with whales flocking in.

Someone just spent $8 million on $TRUMP memecoins after the president announced that the top holders would be invited to join him at a private dinner at his DC golf club.The purchases were funded by a Binance account, suggesting the wallet owner is not based in the US. pic.twitter.com/xRivA9z8tO

To elaborate, one crypto whale outside of the United States spent $8 million to acquire 653K TRUMP coins, earning them a spot on the Trump dinner’s VIP list. Examining the reserves of the 220th TRUMP coin holder, it appears that a ticket for an intimate dinner with Donald could be secured for as low as $420. Nevertheless, the main question remains: will the TRUMP meme coin fan dinner actually take place?

On The Flipside

Depending on the angle, the notion of a holder-exclusive Official Trump dinner serves as a great meme coin utility case or an example of smart, nearly unethical marketing.

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