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Exclusive Dinner Plans Spark TRUMP Token Activity

President Trump has invited holders of the contentious memecoin TRUMP token to a special dinner. TRUMP's price rose from $10 to almost $70 in one day after its launch earlier this year.

However, the crypto market sold off, lowering the token's value to $7. However, the president's declaration rekindled minimal interest, reversing this decline.

TRUMP rose 80% to $16 during the weekend. Market monitoring firm Kaiko noted a significant increase in on-chain transactions during this comeback.

The TRUMP memecoin team announced a top 220 holder dinner on April 23. In particular, the top 25 holders would meet President Trump.

The announcement sparked a 200% rise in TRUMP token transfers from roughly 10,000 wallets in one day.

Trading volume reached $2.3 billion, making it the largest day of the month. Small wallets with less than $100,000 worth of TRUMP tokens drove most of this traffic.

After the dinner announcement, wallets transmitting smaller amounts of TRUMP increased from 46% to 75%. Transactions under $1,000 made up 47.2% of active wallets, indicating a rise in smaller investors.

Bitcoin May Reach $100,000 By Month-End 37%

TRUMP excitement extended beyond blockchain. Overtaking Dogecoin (DOGE) on controlled exchanges (CEXs), the token had its largest daily trading volume since mid-February.

Last Wednesday, approximately 50% of memecoin trading activity on centralized platforms was the President's official cryptocurrency.

The article says that while the early excitement has died down, there may be fresh action as the dinner eligibility deadline near.

Only the top 220 average holders between April 23 and May 12 will qualify, potentially increasing trading and fund movement.