The value of TRUMP surged over 60%, climbing from around $9 to more than $14.7, following the announcement that the top 220 holders of the coin would be invited to a Gala Dinner with the U.S. president.
In just 24 hours, TRUMP saw a trading volume of $3.37 billion, with the TRUMP/USDC pair seeing over 1,500 transactions. Although the price has since dropped below $14, it's still up 43% in the last 24 hours, currently sitting at $13.05.
THIS IS INSANE!
Many speculated that TRUMP would dip as millions in TRUMP tokens began unlocking on April 18. However, the announcement of a dinner for the top 250 TRUMP token holders ignited a massive short squeeze.
The Gala Dinner, set for May 22 at the Trump National Golf Club in Washington, D.C., has generated significant buzz. Despite the recent rally, TRUMP is still valued more than 80% lower than its all-time high of $73, recorded on January 19.
A Strategic Push with $300 Million in Unlocked TRUMP Tokens
The event's timing comes shortly after $300 million worth of previously locked TRUMP tokens were released into circulation on April 18. This development has only added to the excitement.
The project’s page promises extra perks for the top holders: “For the top 25 holders, you’re invited to an exclusive reception before dinner with your favorite President! Plus, we’ve arranged a special VIP White House tour for you—be sure to stay in town.”
Top 15 holders will enjoy an additional treat: a private reception with Trump and an exclusive “VIP White House Tour.” However, the White House has not yet commented on the event.
The more TRUMP you hold and the longer you hold it, the higher your ranking. Currently, 75% of all issued tokens remain locked, with the next release scheduled for July, bringing over $600 million in new tokens into circulation.
Legal Concerns About the TRUMP Token
The TRUMP token has raised questions about political contributions. U.S. law limits individual donations to $3,500 per election, but the 2010 Citizens United ruling allows corporations to contribute unlimited funds to super PACs that are not directly connected to political candidates.
The TRUMP coin is just one of many projects tied to Trump’s name. DT Marks DEFI LLC, a company affiliated with the Trump family, holds 60% of World Liberty Financial, a decentralized finance company that allows users to lend and borrow cryptocurrencies.
When the TRUMP token was launched on January 17, 2025, just days before Trump’s presidential inauguration, it was criticized for taking advantage of his fame and potentially offering insider access to tokens. The market cap soared to $15 billion before dropping 50% by January 20.
This time around, the project is using the White House to offer exclusive tours to TRUMP holders.
Opposition from Democrats
The idea has faced criticism from Democratic leaders. Sen. Chris Murphy accused Trump of running a “backdoor bribery scheme,” where CEOs or foreign oligarchs could secretly send him money through the crypto coin in exchange for political favors.
Sen. Bernie Sanders echoed these concerns, suggesting that Trump could profit from selling coins, allowing anyone to contribute directly to his political influence. While there’s no evidence of wrongdoing, legal experts acknowledge that the possibility exists.
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$BTC $TRUMP $PEPE
