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The price of the cryptocurrency owned by Donald Trump has risen after the U.S. president promised to host two special events for major investors in it.

The website for Trump's meme coin states that the top 220 holders will be invited to a private dinner with the president on May 22, describing it as "the most exclusive invitation in the world."

According to the cryptocurrency trading platform "Coinbase," the price of Trump's coin jumped by more than 70% after the announcement. However, it is still well below its all-time high of over $74 (£42.40), which it reached shortly after its launch in January.