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.
This guy is long almost the entire market (33 tokens), except for $TRUMP, which he is short.https://t.co/E6QEMXG7DV pic.twitter.com/Seaa5XeCyA
— Lookonchain (@lookonchain) March 19, 2026
$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.
🐳 You may have noticed OFFICIAL $TRUMP coin temporarily decoupling over the past few days (+36% since Wednesday). As this was happening, our data indicates that there are now 83 1M+ coin $TRUMP wallets, the most in over 5 months. Coincidence? Likely not. pic.twitter.com/CDBaON4Xba
— Santiment (@santimentfeed) March 16, 2026
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.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
