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While the identities of numerous leading holders of US President Donald Trump\u2019s memecoin remain largely anonymous, blockchain information indicated substantial withdrawals over the past week\u2014coinciding with his announcement of a dinner and White House tour for select tokenholders.\u00a0<\/p>\n
As per data from the blockchain analytics company Nansen dated April 25, the TRUMP memecoin experienced over $869 million in outflows in the preceding week, contrasted with approximately $96 million in inflows among the top 500 alterations. Several of these changes transpired after Trump revealed that the foremost 220 TRUMP holders could apply to dine with him at a golf club gathering in Washington, DC, with limited chances for a White House tour.<\/p>\n
\u201cIt\u2019s evident that a greater number of individuals opted to offload their Trump tokens than new purchasers entered the market,\u201d noted Nansen. \u201cThere still seems to be some enthusiasm\u2014either A) to secure a dinner pass, or B) to take advantage of price fluctuations. Consequently, a handful of new wallets have made their way into the top 250 holders, while some former holders appear to have seized the opportunity to divest their positions.\u201d<\/p>\n Introduced in January before Trump assumed office, his memecoin, along with that of his spouse, Melania, has faced criticism<\/a> from US legislators and crypto industry leaders regarding potential conflicts of interest. At the time of this article’s publication, the identities of many top tokenholders and individuals who might seek to participate in the dinner were not disclosed.<\/p>\n As of April 25, the leading tokenholder possessed 1,176,803 TRUMP memecoins valued at around $16 million at the time of publication. The wallet holder, known as \u201cSun,\u201d has sparked speculation that Tron founder Justin Sun\u2014a supporter of Trump and an investor in the Trump family-affiliated crypto firm<\/a> World Liberty Financial\u2014might be among those attending the dinner. Cointelegraph reached out to Sun\u2019s team for a comment but had not garnered a response at the time of publication.<\/p>\nWho is financing Trump\u2019s memecoin?<\/h2>\n