TRUMP Crashes To All-Time Low, Down 96% While Mar-a-Lago Crypto Gala Sparks Backlash

• TRUMP token dropped to an all-time low, falling over 9% in the last 24 hours and 96% from its peak.
• Despite losses, Trump will host the top 297 token holders at Mar-a-Lago, including a VIP reception for the top 29.
• Crypto ventures are under scrutiny as lawmakers call for investigations and reports show over $1 billion in Trump-linked crypto earnings.

The Official Trump (TRUMP) meme coin has plunged to an all-time low on Saturday, down about 96% from its peak, amid U.S. President Donald Trump's preparations to host top token holders at an exclusive crypto-themed event at his Mar-a-Lago resort in Florida.

The invite-only event, described as one of the most exclusive crypto and business conferences, will bring together the 297 largest holders of the TRUMP token, with the top 29 to attend a VIP reception and a champagne toast with Trump. The president is to deliver a keynote address at the event. 

This time around, investors can earn their spot on the Trump Coin leaderboard by buying into the meme coin or purchasing Trump-branded products such as sneakers. The event’s website says the top 297 on the leaderboard will be joined by 18 “global superstars,” including wrestler Mike Tyson, motivational speaker Tony Robbins, and prominent crypto executives and investors, according to the Washington Post. 

TRUMP’s price was down over 9% in the last 24 hours. On Stocktwits, TRUMP was the top trending ticker. Retail sentiment around TRUMP dropped to ‘neutral’ from the ‘extremely bullish’ zone, while chatter improved to ‘low’ from ‘extremely low’ over the past day.

Some Stocktwits users said, “scam doubled Trump's net worth.” 

Alternatively, Melania Meme (MELANIA), which launched along with TRUMP coin, was up 0.1%. 

TRUMP’s sharp fall comes amid heightened scrutiny of the Trump family’s expanding crypto ventures. Democratic lawmakers have called for investigations into possible conflicts of interest, and ethics experts say the intersection of presidential power and private crypto business interests is largely uncharted territory in modern U.S. politics.

Although many retail investors who got in on the token’s early surge have lost money, the Trump family and affiliated entities are said to have earned more than $1 billion from crypto-related activity, including hundreds of millions of dollars from meme coin sales.

Promoters said the guests will receive a Trump-branded fragrance, a commemorative poster, and a “Fight Fight Fight Red Beauty Watch,” which normally goes for $499. The top 29 VIPs get a “very, very special” talk on the history of Mar-a-Lago.

TRUMP Token In Hot Water

Adding fuel to the fire is blockchain data showing that crypto billionaire Justin Sun remains one of the token's largest holders with $41.11 million as of Saturday, even as he pursues legal action against a Trump-linked crypto venture for allegedly improperly freezing his assets. 

Mar-a-Lago has hosted charity events over the years, with more celebrity guests, including Martha Stewart and John Stamos, and has recently become a hub for crypto’s biggest names. Last January, Michael Saylor, the executive director of the world’s largest corporate holder of Bitcoin (BTC) Strategy (MSTR), met with Eric Trump at Mar-a-Lago, saying, “Bitcoin was on the menu.”

Read also: Scott Bessent Unleashes ‘Economic Fury,’ Freezes $344M In Iran-Linked Crypto Assets

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