Crypto trader goes long on 33 tokens then beefs with $TRUMP

A crypto trader has taken long positions on 33 digital assets but has chosen to short only TRUMP, the meme coin backed by President Donald Trump that has dropped 95% from its peak, according to data tracked by Lookonchain.

TRUMP, which debuted days before Trump’s January 2025 presidential inauguration, is trading at around $3.4 at press time, down 4% in the last 24 hours, per CoinGecko.

The token has long been a matter of dispute for mixing political power with crypto markets. It has raised concerns about ethics, fairness, and conflicts of interest.

The TRUMP token, launched in 2025, offered top holders perks such as access to Trump at a gala dinner held last May.

The project team plans to repeat the format. On April 25, a gala luncheon will be held at Mar-a-Lago, with Trump listed among the keynote speakers alongside 18 “global giants” whose identities have not been disclosed.

Attendance is capped at 297 participants and determined by a leaderboard based on TRUMP token holdings. The top 29 holders will receive VIP benefits, including a reception with Trump, a talk on Mar-a-Lago’s history, and priority seating at the event.

Santiment reports that the TRUMP coin recently moved independently of the wider market. Analysts also note a rise in large holders, with 83 wallets now holding more than 1 million TRUMP as of March 16.

The token rose sharply after the May dinner announcement, then gave back part of the gains in the days that followed. It picked up again as the event approached.

A similar pattern had already played out, with TRUMP gaining around 60% following the Mar-a-Lago announcement.