x.com/KevinFlanagann/status/2030349454822264963
1 correction found
it shot up from retail and it also dumped from retail.
That overstates the role of ordinary retail traders. The $TRUMP token was heavily controlled and monetized by Trump-linked insiders, and early whale trades and cash-outs were part of both the rise and the fall.
Full reasoning
This is misleading in the context of $TRUMP, the Trump meme coin.
- The token was not just a retail-driven market. The official $TRUMP site says CIC Digital LLC and Fight Fight Fight LLC collectively own 80% of the tokens and that Trump-linked entities "will receive trading revenue derived from trading activities".
- CNBC reported that the main wallet behind $TRUMP earned more than $350 million in USDC by acting as a market maker and collecting a fee on each trade. That means project-linked insiders were directly profiting from trading activity; it was not simply retail buying and selling among themselves.
- WIRED documented that within minutes of launch, wallets made very large purchases ($1.1 million, $500,000, $250,000, etc.), and that some of those early traders later cashed out for tens of millions of dollars as the price fell. Those are not ordinary small retail trades.
So the claim that the coin "shot up from retail" and "dumped from retail" is inaccurate: large insider-linked and whale activity was materially involved in the token's market behavior and profits, not just retail traders.
3 sources
- The Official Trump Meme | GetTrumpMemes
CIC Digital LLC, an affiliate of The Trump Organization, and Fight Fight Fight LLC collectively own 80% of the Trump Cards... CIC Digital LLC and Celebration Cards LLC... will receive trading revenue derived from trading activities of Trump Meme Cards.
- Trump meme coin insiders to wait additional 90 days before selling
Only 20% of the supply of $TRUMP is available to trade. The remaining 80%, held by insiders, is locked... According to Chainalysis, the main wallet behind $TRUMP earned more than $350 million in USDC, a dollar-pegged stablecoin, by acting as a market maker, collecting a fee on each trade.
- Early Investors in Donald Trump's Memecoin May Have Been Tipped Off, Experts Claim
At 02:01:33 am UTC on January 18, a crypto trader ... purchased $1.1 million worth of TRUMP ... barely two minutes earlier... The early traders, who by now had made a killing, began to cash out... transactions brought in more than $30 million.