Why Trump Coin Is Up: Dinner News Create Suspense, What’s Real Motive?
The price of Donald Trump meme coin, called $TRUMP, jumped sharply on Wednesday night. This sudden rise came after a big announcement: the top 220 token holders will be invited to an exclusive dinner with Trump himself. The price of the coin surged by almost 70%, hitting a high of $15.47 before dropping slightly to around $12.08 today.
Source: CoinMarketCap
The coin’s market cap also rose to $2.43 billion, which is 30% higher than the day before. However, this is still far from its all-time high of $15 billion. The official website of the token called the event the most “EXCLUSIVE INVITATION in the World.” The top holders will attend a “black tie optional” dinner on May 22, at private golf club near Washington, D.C.
That’s not all. The top 25 holders will get access to a private VIP reception and a special tour with the president. The event is being promoted as a chance to hear the US President’s views on “the Future of Crypto.”
Why Trump Coin is Up: Strategy or Show?
This is not the US President’s first surprising crypto-related move. In March, he launched a Strategic Crypto Reserve, including five big tokens—Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP, and Cardano (ADA). That announcement alone pushed the entire crypto market up by 5.97%, showing the market's reaction to Trump’s influence.
But just weeks later, he made headlines again with his tariff war plan, which led to a sudden crypto market crash which resulted in Black Monday due to fears of a worsening U.S.-China trade war.
Today, he appears to be attempting to restore his reputation among the crypto community. By hosting a personal dinner and a one-on-one meet-and-greet for leading holders, it appears he's attempting to re-establish the confidence of crypto investors. But this action also raises grave concerns. Numerous critics, including Senator Elizabeth Warren, have highlighted the confusion and lack of clear policies. She said, "It's just all chaos and corruption."
Investment in TRUMP Coin: Race to Be in Top 220 Holders
Since the dinner announcement, Lookonchain data shows a spike in investor activity. According to blockchain data platform Lookonchain:
Source: Lookonchain
A previously inactive wallet withdrew 1.5 million USDC from Binance and bought over 123,000 coins.
A long-time liquidity provider removed funds and now holds over 211,000 tokens and 18,000 SOL, qualifying for two invites.
One investor who bought 332,000 at just $2.41 and added liquidity during launch has seen their holdings jump to over $24 million at the peak.
A whale recently spent $5 million USDC to buy 407,000 tokens just after the dinner news broke.
Clearly, people want in—not just for the money, but for a chance to dine with Donald Trump himself.
Is This Trump’s New Move to Win Trust?
This latest announcement seems to show that Donald wants attention and support from the world. He’s presenting himself as someone who listens to and supports everyday investors. Having a personal dinner with some of the top holders may help him appear more grounded and connected with the community.
But why is he only promoting his own meme coin instead of supporting the wider crypto space? If he truly supports crypto, shouldn’t he promote the whole industry, not just his personal project?
Is he attempting to leverage the space in an attempt to build credibility and sanitize his reputation? Or is that just another publicity stunt?
Only time will reveal what this strategy actually means. But as of now, the meme coin price spike has attracted the notice of investors as well as critics.
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