Trump Team Moves $52.66M in Tokens Ahead of VIP Dinner

A wallet associated with the Official Trump (TRUMP) team has transferred tokens valued at over $50 million to major exchanges in anticipation of an upcoming VIP dinner with top holders and Donald Trump. The transaction involved 3.5 million TRUMP tokens, worth approximately $52.66 million, which were distributed to Binance, OKX, Coinbase, and Bybit. This move is likely aimed at supporting liquidity operations, as the wallet was initially designated for liquidity provision during the token’s launch.

The distribution of tokens to the exchanges was as follows: Binance received 1.5 million TRUMP valued at $22.41 million; OKX got 1 million TRUMP worth $15.06 million; Bybit received 500,000 tokens valued at $7.53 million; and Coinbase was sent 500,000 TRUMP worth $7.48 million. This development comes less than two weeks before the dinner scheduled for May 22, 2025, at Trump's Washington D.C. golf club, which is exclusively for the top 25 TRUMP holders. The event has intensified interest and trading activity around the token, which was launched in January 2025 on the Solana blockchain.

The meme coin has been marked by extreme price swings and strong investor reactions. Since the dinner announcement, TRUMP has sometimes outperformed the broader crypto market, driven by aggressive whale accumulation as investors vie for VIP access. One trader, for example, netted nearly $670,000 in less than 24 hours by converting 1.18 million Fartcoin (FARTCOIN), worth $1.22 million, into 78,671 TRUMP tokens. In contrast, another investor lost $2.8 million within an hour chasing the same opportunity.

Amid the frenzy, critics, particularly from the Democratic Party, have raised concerns, arguing the dinner could constitute a “pay-to-play” scenario and potentially violate federal emoluments clauses. As of the latest update, TRUMP was trading at $14.21, up 0.6% on the day and nearly 12% over the past week. The token is approaching overbought territory with a 14-day Relative Strength Index (RSI) at 63. At the same time, TRUMP is currently trading well above its 50-day simple moving average (SMA) of $10.74, reinforcing the bullish momentum while signaling a need for caution in the short term.