The price of the Trump coin increased by 50% after the announcement of the "Trump Dinner".
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President Donald Trump is planning a special dinner for the top 220 holders of his official cryptocurrency $TRUMP.
The event will be held on May 22 at the Trump National Golf Club in Washington, D.C., according to the project's website. The announcement led to a massive increase in the value of the currency, with prices jumping by more than 50% in just one day.
The invitation-only dinner is open to the top 220 holders of the Trump Card during a specific period from April 23 to May 12. The leaderboard was posted online on Wednesday to track the qualifiers.
"The more value $TRUMP you hold, and the longer you hold it, the higher your ranking," as stated on the website. This message encouraged supporters to quickly increase the value of their tokens.
Those who reach the top fifteen positions will receive an additional benefit: a private reception with Trump before dinner and a "VIP tour of the White House."
The project page adds: "For the top 25 coin holders, you are invited to a special reception before dinner with your favorite president! Additionally, we have arranged a separate VIP tour of the White House for you, so be sure to stay in the city."
After the announcement, the price of the token rose from around $9 to over $16, with trading volume exceeding $750 million within just 24 hours, according to data from CoinMarketCap.