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The #TRUMP tokens d over 65%—from around $9 to $14.70—after the project revealed that the top 220 holders will be invited to an exclusive gala dinner with former U.S. President Donald Trump. The event is scheduled to take place on May 22 at the Trump National Golf Club in Washington, D.C.
Within 24 hours, trading volume spiked to $3.37 billion, with more than 1,500 transactions in the TRUMP/USDC pair alone. While the price has since pulled back to $13.05, the token is still up 43% on the day.
The announcement triggered a massive short squeeze, catching traders off guard—many of whom had bet against the token due to a scheduled token unlock on April 18, which released $300 million worth of #TRUMP lation.
The project sweetened the deal for its top investors: according to the website, the top 25 holders will receive an invitation to a private reception with Trump prior to the dinner. The top 15 will also enjoy a VIP White House tour arranged by the organizers. However, the White House has not publicly commented on this event.
Despite today’s rally, $TRUMP remains more than 80% below its all-time high of $73, recorded on January 19, just days before Trump’s latest inauguration.
Currently, 75% of all $TRUMP tokens remain locked, with another major unlock—valued at over $600 million—set for July. The project's mechanics favor long-term holding, with ranking benefits tied to both token quantity and duration held.
The token’s rise is not without controversy. Legal experts have raised concerns over potential campaign finance violations, given U.S. laws restricting individual contributions to $3,500 per election cycle. While Citizens United permits unlimited contributions to super PACs, direct financial ties to a sitting president raise ethical and legal red flags.
Democratic senators have criticized the initiative. Sen. Chris Murphy labeled it a “backdoor bribery scheme,” alleging that the token allows CEOs and foreign entities to funnel money to Trump under the guise of crypto investments. Sen. Bernie Sanders echoed similar concerns, stating it gives contributors a direct financial channel to the president.
The $TRUMP token has faced backlash before—its January launch was seen as capitalizing on Trump’s fame while enriching insiders. Market capitalization hit $15 billion within days before plunging 50% by January 20.
With Trump now tying exclusive access and perks to token ownership, critics say the lines between politics and crypto speculation are becoming dangerously blurred.