I recently noticed that the TRUMP cryptocurrency experienced significant selling pressure on the eve of the conference. The price plummeted by 21.5% in the days leading up to the event, currently trading around $2.47, while its all-time high once exceeded $78, representing a frightening decline.

On-chain data also confirms this trend, with approximately $46 million worth of tokens flowing into exchanges, which usually indicates holders preparing to sell. I've seen many such patterns, where the market is hyped up to a peak before the event, and once the excitement reaches its maximum, profit-taking begins. This "sell on rumors" tactic is particularly common in the crypto market.

Interestingly, the organizers also rewarded the top 297 large holders to attend the Mar-a-Lago event, with the top 29 receiving VIP treatment. But from the price movement, these privileges and access seem unable to sustain market sentiment. Early buyers made profits during the bull run, but latecomer retail investors are now suffering heavy losses.

This crypto project ties the image of political figures to speculative demand, which is inherently controversial. Now, the market is voting with its feet—liquidity and price stability have become issues. The next key point is to watch the wallet activity after the event; if exchange inflows continue to grow, the market may remain bearish.