According to the latest information, on April 23, 2025, the Trump team announced that they will hold a private dinner for the top 220 holders of their official meme coin "TRUMP." This news caused the price of the token to surge by 50%-65% within 24 hours, rising from a high of $9 to $14.7. Here are the key analyses:
1. Event Details:
- The dinner is scheduled to take place on May 22 at Trump's private golf club in Washington, D.C. The top 25 holders will also receive VIP treatment, including a tour of the White House.
- Eligibility to participate depends on the amount held and the duration of holding, and participants must pass a federal background check.
2. Market Reaction:
- The price of TRUMP coin briefly soared, and trading volume surged to $3.37 billion, but the market depth was insufficient, with the top 10 addresses controlling 82% of the circulating supply, leading to a risk of market manipulation.
- The open interest in futures reached $700 million, significantly exceeding traditional projects like Litecoin, with leveraged trading intensifying volatility.
3. Controversies and Criticism:
- Democrats have accused this move of being a "backdoor bribe," potentially circumventing campaign donation limits.
- The Trump family holds 80% of the unlocked tokens, creating significant future selling pressure, and the coin lacks real-world applications, relying on political gimmicks.
4. Political Strategy:
- Trump aims to attract young crypto investors (with the 18-35 age group holding 38%) and has raised over $30 million through crypto channels.
In summary, this dinner is essentially a combination of political marketing and crypto speculation, providing short-term market stimulation but accompanied by high risks. Regulation and token unlocking may become key variables in the future.