The famend PolitiFi token TRUMP coin has not too long ago seen a surge in worth and investor exercise, rising as a scorching buzz inside the crypto market amid Donald Trump’s dinner invitation to its holders. However, a peculiar dumping spree taken on by the meme token’s crew has sparked issues market-wide recently.
On-chain statistics indicated that the crew offloaded $20 million price of tokens to crypto exchanges on April 29. Meanwhile, in an unprecedented plot twist, Democratic senators pushed for an inquiry into the upcoming dinner for token holders, which seems to have solidified issues amid the huge dump.
TRUMP Coin Team Offloads $20M To Crypto Exchanges
Lookonchain’s X post on April 29 revealed {that a} pockets linked to the TRUMP coin crew has deposited a whopping $19.6 million price of tokens to the crypto alternate behemoths Binance, OKX, and Bybit.
As per the information, 700,000 tokens price $10.21 million had been dumped to Binance. Whereas, 350,000 and 296,000 tokens had been offloaded to the CEXs OKX and Bybit, respectively.
Primarily, the huge deposits highlighted above point out that the token provide on exchanges rose significantly. In response, market watchers eye the dumps with some warning, whereas the current probe into Donald Trump’s upcoming dinner has rung additional alarms.
Democrats Push For Inquiry Into The Upcoming Dinner
U.S. Sen Adam B. Schiff and Elizabeth Schiff have not too long ago known as for an inquiry into the upcoming Donald Trump dinner for high traders in his PolitiFi token. Notably, the Senators have requested U.S. Office of Government Ethics Director Jamieson Greer to launch a probe into the matter.
“We write to request an urgent inquiry regarding President Trump’s invitation for top investors in his meme coin, $TRUMP, to join him at an intimate private dinner and private VIP reception, which led to a subsequent surge in investment in the President’s digital asset that increased its value by approximately $100 million,” Schiff & Warren wrote of their submitting.
The dinner for the highest 220 traders within the PolitiFi token will happen on May 22, 2025. Intriguingly, CoinGape reported that market watchers imagine TRON founder Justin Sun is attending this dinner, amongst many different famend personalities.
Meanwhile, the PolitiFi token’s worth traded at $13.95 on the time of reporting, extending weekly good points to almost 70% amid the President’s dinner buzz. However, regardless of the optimistic buzz, a TRUMP coin price prediction by CoinGape revealed that bears stay dominant on the token, per the 3-month bias indicator.
Coingape Staff
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