TRUMP token slides 97% after Mar-a-Lago event draws top holders
A closed-door crypto gathering at Donald Trump’s Mar-a-Lago reportedly invited the 297 largest holders of the TRUMP meme token, with Bill Zanker, Mike Tyson, Cathie Wood, and executives from Alchemy and Anchorage Digital among the guests. The event was framed as another signal that a Trump return could support the digital-asset sector.
For crypto traders, the more actionable takeaway is price momentum: the TRUMP token is said to have fallen about 97% from its peak after the earlier political/launch hype cycle. MELANIA followed a similar pattern, dropping roughly 99% after its initial surge. The article also claims that even during the drawdown, Trump-branded meme coins generated millions in transaction fees for organizations linked to Trump and his family.
Overall, this is likely to reinforce a fast unwind pattern for TRUMP meme tokens after high-profile political or celebrity catalysts—raising near-term sell-pressure risk, even if event-driven attention continues.
Bearish
The event drew major political/celebrity and industry attention, but the reported market outcome for the TRUMP token and MELANIA is a steep post-catalyst unwind (TRUMP ~-97%, MELANIA ~-99%). That pattern typically signals fading momentum and higher probability of sell-pressure after hype. While the claim of millions in transaction fees suggests activity may persist, fee generation alone does not prevent price weakness for the TRUMP token itself. Net effect is bearish for TRUMP (and closely linked meme sentiment) in the short term, with limited evidence of a durable bottom from this news.