An attendee of Thursday’s Trump crypto gala dinner launched a Solana meme coin by way of Pump.enjoyable amid the president’s speech—posting proof of the motion in a Telegram group.
The token failed to realize a lot traction, nonetheless, topping out at a market cap of $450,000 earlier than it crashed and burned, with holders who apparently gambled on the token’s prospects labeling the deployer a “scammer” and calling for “jail time.”
In a video posted within the meme coin’s Telegram group, the attendee may be seen recording President Trump chatting with a room packed filled with fits. The digital camera then pans downwards as they choose up their telephone—which exhibits some Russian language textual content—and launch the Trump Dinner (DINNER) token.
The unnamed deployer was among the many high 220 TRUMP holders invited to the unique dinner on Thursday night time, an occasion that value top-tier “VIP” attendees a median of $4.8 million value of TRUMP tokens to attend.
On condition that unique backdrop, once they posted a video making a token, merchants on the Pump.enjoyable thread believed the creator was a crypto “whale” and that the token was destined for a multi-million-dollar surge.
Erxn2WVviLZVPkZqsuGBgZc9hwZdme1ucuXXJc2Mpump$TRUMP
A COIN CREATED RIGHT AT TRUMP’S DINNER pic.twitter.com/jDC27DBn5K— Serg Nasral (@sergnasral) Could 23, 2025
That by no means occurred, nonetheless, and it’s seemingly the token struggled to make headway because of two notable purple flags that will have involved meme coin merchants.
First off, the deployer managed practically 10% of the overall provide—greater than double the quantity deemed socially acceptable within the trenches. And second, 44% of the tokens have been bundled throughout a number of wallets in accordance with TrenchBot, a software usually utilized by merchants. A bundle is when a portion of a token provide is purchased by way of a number of wallets, giving the phantasm that no single group or individual has an excessive amount of management over a coin.
In consequence, the token failed to interrupt previous a $450,000 market cap, and crashed in worth by 89% in a matter of minutes.
“Full clip dev bag. What you want 10 % for? lmao,” one Pump.enjoyable commenter stated, urging the creator to promote all of their tokens.
After posting 4 dinner-related movies within the token’s Telegram chat, together with one in every of President Trump dancing to “YMCA,” the deployer heard the group’s issues and supplied to ship a part of his provide to the official TRUMP meme coin deployer pockets.
“5%. Ship it,” the creator wrote on Telegram, attaching a SolScan hyperlink. However, by some means, they’d despatched the tokens to their very own pockets, relatively than TRUMP.
Following this transfer, the token rallied 118% to a $137,920 market cap as a video of the attendee’s filet mignon entered the chat—earlier than sharply crashing 45% again all the way down to $76,100.
“Coin is a rip-off lmao,” a Pump.enjoyable commenter wrote. “He despatched 5% to himself.”
By this level, upset token holders began to take to X (previously Twitter) to voice their anger with the failed venture.
“Discover this dude [for real], he stole [$4,000 in SOL] from me. My pockets is so dangerous [right now], please discover this dude, rip-off everybody [for real],” pseudonymous dealer Cloxes wrote on X. “Jail time,” Cloxes wrote in one other publish.
Others referred to as out the close to 44% provide being bundled as in charge for the venture’s failure. Nevertheless, there may be solely on-chain proof of the deployer’s personal pockets and quite a lot of small fry snipers buying the token earlier than the unique video was posted—two minutes after being deployed.
The primary pockets to purchase and revenue off the token purchased DINNER a minute after the video was posted, shopping for in with $177 in SOL and ultimately promoting for $3,600 in revenue by way of three transactions.
The truth is, the creator’s pockets—regardless of proudly owning 10% of the availability and suspiciously sending half of the stash to himself, relatively than to the TRUMP pockets—by no means really bought.
Within the final video posted within the Telegram, the attendee confirmed employees packing up after handing out particular version watches given to the highest 4 TRUMP holders. Within the deployer’s voice, you possibly can hear ache as his DINNER token sat at a measly $58,000 market cap.
“Are you a holder of the DINNER coin?” the deployer stated, relatively seductively, earlier than pausing, “Yeah… nonetheless early…”
Consumers weren’t nonetheless early, nonetheless—they have been very late.
DINNER didn’t rise as soon as after this message and is presently sitting at a market cap of $14,350—down a whopping 92.5% from its already disappointing all-time excessive.
Edited by Andrew Hayward
