TRUMP token faces volatility as Donald Trump hosts private dinner for biggest backers:
The Official Trump token is facing new volatility as Donald Trump doubles down on crypto, recently hosting a private dinner for the token’s biggest investors.
The token is trading at $14.47 as of press time, down 1.9% over the last 24 hours, though it’s still up 53% in the past month. Despite the recent momentum, it’s currently 80% below its January high of $73.43.
On May 22, Reuters reported that Trump welcomed major TRUMP token holders to a black-tie event at his golf club in Sterling, Virginia. 220 investors attended the exclusive dinner. These attendees were the top holders of the TRUMP memecoin, as determined by a leaderboard based on their holdings from April 23 to May 12, 2025.
In total, attendees contributed $148 million to the memecoin to secure their seats. The top 25 wallets alone spent about $111 million combined. Outside the venue, over 100 protesters lined the streets with signs reading “America is not for sale” and “Stop crypto corruption.”
Inside, guests attended a VIP reception. The top four investors received custom Trump Tourbillon watches, said to be worth $100,000 each. The biggest spender was billionaire Justin Sun, whose wallet held $18.5 million in TRUMP.
Sun, now an adviser to Trump-linked World Liberty Financial, which has raised about $500 million, shared videos of his ballroom entrance and a prior visit to the White House Executive Office Building.
Following the event, market activity has spiked. Daily volume jumped 24.5% to $2.63 billion, while derivatives volume rose 17.3% to $3.9 billion, according to Coinglass data.
But momentum indicators are still mixed, suggesting caution among traders. Resistance lies between $15.10 and $15.50. A breakout above that zone could fuel a rally toward $17.30, while failure to hold above $13.20 and $12.60 may trigger a drop back to $11.30 support.