The official $TRUMP token experienced a significant surge following an announcement from President Donald Trump. He revealed plans to host a private dinner on May 22 at his Trump National Golf Club in Washington, D.C., exclusively for the top 220 holders of the $TRUMP memecoin. The top 25 holders are promised additional perks, including a VIP reception and a White House tour.
This announcement led to a rapid increase in the token’s value, with prices soaring by over 50% and trading volumes exceeding $276 million within 24 hours. The surge reflects heightened investor interest and market activity surrounding the event and traders are advised to HODL onto the token to earn more.
However, the initiative has sparked controversy. Critics, including Democratic senators, have raised concerns about potential ethical violations, suggesting the event could be perceived as a “pay-to-play” scheme . Legal experts have also pointed out that offering exclusive access based on token holdings might circumvent traditional campaign finance regulations, placing the event in a regulatory gray area .
Furthermore, it’s noteworthy that entities affiliated with Trump, such as CIC Digital LLC and Fight Fight Fight LLC, reportedly control about 80% of the TRUMP token supply. These organizations have benefited from the token’s trading activity, earning substantial fees. #DinnerWithTrupm
While the TRUMP token’s recent performance underscores the influence of political figures in the cryptocurrency market, potential investors should approach with caution, considering the ethical debates and regulatory uncertainties surrounding such politically affiliated digital assets.
(Source: BingX)
