#TRUMPCOINE The value of Donald Trump’s meme coin jumped by more than 50% on Wednesday after its official website said the coin’s top 220 holders would be invited to a private gala dinner with the president on 22 May.

The top 25 holders of the coin would also get “an ultra-exclusive VIP reception with the president”, as well as a special tour, the website said.

The coin, called $TRUMP, rose by more than 50% after the announcement to trade at about $14.70. It fell back slightly to $12.30 in early trading on Thursday, according to CoinMarketCap.

Despite the sharp rise, the price of the president’s coin is far below the peak it hit shortly before his inauguration in January, when it soared from about $6 to $75.