Solana Meme Coin Launched at Trump Crypto Dinner, Failed

PANews reported on May 24 that according to Decrypt, a participant at the Trump crypto dinner instantly issued a Solana Meme coin called DINNER through Pump.fun, but the token quickly collapsed. The video shows that the anonymous creator used his mobile phone to issue coins during Trump's speech. The initial market value surged to $450,000 and then plummeted 89%, with the final market value being only $14,000. On-chain data shows two major risk signals: the creator controls 10% of the token supply (twice the industry practice), and 44% of the tokens are held in multiple wallets to create a false illusion of decentralization. Although the creator promised to transfer 5% of the tokens to the official TRUMP wallet, it was actually transferred to his own address, triggering community "scam" accusations. The earliest buyers made a profit of $3,600 through three transactions, while most later investors suffered losses.

The incident has heightened doubts about the "pay to participate" nature of the dinner. Protesters held up signs outside the venue that read "Stop Crypto Corruption," after Democratic lawmakers called for an ethics investigation into the dinner. It is worth noting that the creator did not sell off his 10% tokens in the end, and the value of DINNER fell 92.5% from its short-term high to basically zero.

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Author: PA一线

This content is for market information only and is not investment advice.

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