$TRUMP

UMP Memecoin Sees 60% MAGA Pump as Investors Chase Dinner with Donald Trump.

The memecoin sector has experienced a 3.68% decline in market capitalization over the past 24 hours, falling to $52.2 billion, as traders cashed in after a recent rally. Despite the broader pullback, politically themed tokens like TRUMP and $PNUT surged, with gains reaching up to 60%. In contrast, legacy memecoins such as $DOGE , $SHIB , and $PEPE declined by an average of 5%.

The TRUMP token, tied to former U.S. President Donald Trump, now leads the political memecoin segment with a market cap over $2.3 billion. Originally launched on Solana on January 17, it peaked at over $14.5 billion just before Trump’s anticipated inauguration but has since dropped more than 70%.

A new wave of momentum hit the token on April 23, after Trump revealed a private dinner event for the top 220 TRUMP holders, scheduled for May 22 at Trump National Golf Club in D.C. Trump is expected to discuss crypto and blockchain at the event. Ranking for eligibility is based on both the number of tokens held and holding duration, sparking renewed demand as users aim to qualify.

The initiative has drawn criticism from regulators and crypto veterans who argue the event could function as a form of unregulated political fundraising, potentially sidestepping campaign finance rules. Concerns over transparency, regulatory oversight, and the concentration of token supply have intensified.

Notably, the project’s developers still control 80% of the token supply, and most top holders remain anonymous.

Analysts Warn of Potential Dump and Manipulation

Analysts, including trader SCryptotrader, warn that this rally could be a FOMO trap, with $400M worth of tokens unlocked last week and a 0.04% daily inflation rate expected. He suggests the event may serve as a setup for insiders to offload at the top, cautioning newer investors about an incoming sell-off.