Promised a seat at a dinner event at Trump's golf club, the top 220 token holders triggered nearly $2 billion in token purchases.
However, over 30 major holders sold their positions just hours after qualifying, leading to a price dip before a partial rebound.
Critics raise ethical concerns as paying for access through an unregulated token blurs lines between campaign hype and influence-peddling.
Despite controversy, the Trump Organization and partners reportedly earned over $320 million in trading fees since the token's launch, with one wallet holding $14.6 million in tokens securing the top seat at the dinner.