Solana-based memecoin, Official Trump (TRUMP), is the crypto market's biggest gainer today, up nearly 30% in the last 24 hours.
This growth came after a major announcement that the US president would host an exclusive “gala dinner” for the token’s 220 largest holders, sparking renewed interest from investors.
TRUMP token dominates the charts
Donald Trump-inspired meme coin TRUMP has surged 29% in the past 24 hours, fueled by news of an exclusive incentive directly tied to the US president.
According to the project’s official website, the top 220 TRUMP token holders will receive an invitation to a private gala dinner with the president on May 22. The website advertises the event as “the most EXCLUSIVE INVITATION in the world.”
Following the announcement, market sentiment around the token has changed significantly. Trading volume has increased by more than 500%, reaching $5.11 billion, the highest single-day volume for the memecoin since February 14. When the price of an asset and trading volume increase simultaneously, it signals strong market interest and growing momentum behind the move. This trend indicates that new investors are entering the TRUMP market, fueling the continuation of its current uptrend.
On the daily chart, the Parabolic Stop and Reverse (SAR) indicator for TRUMP supports this bullish forecast. At the time of publication, the indicator’s dots are located below the TRUMP price, forming dynamic support at $7.85. The asset’s Parabolic SAR indicator identifies potential trend direction and reversals. When its dots are located below the asset price, the market is in an uptrend. This confirms TRUMP’s current rally and also hints at the possibility of sustained growth in the short term.
TRUMP Faces a Decisive Moment
At the time of writing, TRUMP is trading at $11.82. If bulls maintain control and demand picks up ahead of the private gala, the memecoin could continue its rally and climb to $22.14. However, if profit-taking resumes, TRUMP could lose its recent gains and fall to $7.14.