Traders still offloading TRUMP holdings after dinner announcement
Data from blockchain analytics firm Nansen revealed that the TRUMP memecoin has experienced significant outflows, totaling over $869 million in the past week, against only $96 million in inflows. This trend coincided with Donald Trump's announcement of a dinner and White House tour for top tokenholders. Nansen indicated that the outflows suggest more traders are choosing to sell their holdings rather than buy new ones, although there remains interest driven either by securing a dinner ticket or capitalizing on price volatility. As of April 25, the top holder of the TRUMP memecoin owned over 1.17 million tokens valued at around $16 million. Speculation surrounds the identity of the top holders, including possible connections to notable figures like Justin Sun and Elon Musk. Critics have raised concerns over the centralized control of the token, with accusations that it might lead to a rug pull before the upcoming election, echoing previous events involving NFTs and similar promotions.
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