Trump’s Dinner Invitation Sparks TRUMP Token Surge: A 60% Leap in Minutes
On April 23, 2025, Donald Trump announced that the top 220 holders of his official memecoin, TRUMP, would be invited to an exclusive dinner at the Trump National Golf Club in Washington, D.C., scheduled for May 22.
The top 25 holders would receive additional perks, including a VIP reception and a special tour.
This announcement triggered a buying frenzy, propelling the TRUMP ken’s price by nearly 60% within an hour, reaching an intraday high of $16.17.
Although the price has since stabilized around $12, the token’s market capitalization remains robust at approximately $2.6 billion.
The Allure of Presidential Access
The prospect of a private dinner with President Trump proved irresistible to many investors. At least 27 crypto wallets acquired over 100,000 TRUMP ns each — valued around $1 million per wallet — resulting in approximately $100 million in total purchases.
The leaderboard determining dinner invitees is based on average coin holdings from April 23 to May 12. As of the latest update, the top holder “CASE” owns 400,000 tokens valued at $5.2 million.
Behind the Token: Control and Controversy
Approximately 80% of the TRUMP supply is held by CIC Digital LLC and Fight Fight Fight LLC, entities affiliated with the Trump Organization.
These organizations have benefited significantly from trading fees, collecting $1.6 million within a day of the dinner announcement.
While these entities cannot currently sell their tokens due to restrictions and potential backlash, critics argue that the campaign blurs ethical lines, suggesting it might be a veiled avenue for gaining political influence. Wired
What’s Next for TRUMP?
ThE TRUMPs experienced significant volatility since its launch, initially spiking from $6 to $75 and drawing criticism for leveraging political support for profit.
Analysts warn that the coin’s value may slump after the gala incentive fades.
However, with the dinner event scheduled for May 22 and the leaderboard based on holdings from April 23 to May 12, there may still be opportunities for investors to climb the ranks.
Disclaimer: Trading cryptocurrency futures with leverage involves substantial risk of loss. This article is for educational purposes only and should not be considered financial advice. Always conduct your own research and never trade with funds you cannot afford to lose.