Exclusive Dinner Plans Unleash Activity of the TRUMP Token

President Trump has invited holders of the controversial memecoin token TRUMP to a special dinner. The price of TRUMP surged from $10 to nearly $70 in one day after its launch earlier this year.

However, the cryptocurrency market sold off, reducing the token's value to $7. Nevertheless, the president's statement reignited minimal interest, reversing this decline.

TRUMP rose by 80% to $16 over the weekend. Market monitoring firm Kaiko noted a significant increase in on-chain transactions during this comeback.

The TRUMP memecoin team announced a dinner for the top 220 holders on April 23. Notably, the top 25 holders would meet with President Trump.

The announcement triggered a 200% increase in transfers of the TRUMP token from approximately 10,000 wallets in one day.

Trading volume reached $2.3 billion, making it the largest day of the month. Small wallets with less than $100,000 in TRUMP tokens drove most of this traffic.

After the dinner announcement, wallets transmitting smaller amounts of TRUMP increased from 46% to 75%. Transactions below $1,000 accounted for 47.2% of active wallets, indicating a rise in smaller investors.

Bitcoin could reach $100,000 by the end of the month 37%

The excitement for TRUMP extended beyond the blockchain. Surpassing Dogecoin (DOGE) on centralized exchanges (CEXs), the token had its largest daily trading volume since mid-February.

Last Wednesday, approximately 50% of the memecoin trading activity on centralized platforms was the official cryptocurrency of the president.

The article states that although the initial excitement has waned, there may be new action as the eligibility deadline for the dinner approaches.

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