Exclusive Dinner Plans Spark TRUMP Token Frenzy
President Donald Trump has extended an exclusive invitation to top holders of the controversial TRUMP memecoin, igniting a surge in market activity. The TRUMP token, which skyrocketed from $10 to nearly $70 after launch earlier this year, had slumped to $7 amid a broader crypto market sell-off. However, Trump's announcement rekindled investor interest, pushing the token up 80% to $16 over the weekend.
According to market intelligence firm Kaiko, on-chain activity surged during this recovery phase. The TRUMP token team revealed plans for a high-profile dinner on April 23, exclusively for the top 220 holders, with the top 25 earning a personal meeting with President Trump. This announcement triggered a 200% spike in token transfers, with roughly 10,000 wallets active in a single day.
Daily trading volume soared to $2.3 billion—the highest this month. Notably, small wallets (holding under $100,000 in TRUMP) drove the bulk of the activity. The proportion of smaller investors grew, with wallets transmitting less than $1,000 accounting for 47.2% of transactions, up from 46% to 75% post-announcement.
The excitement spilled beyond blockchain as TRUMP overtook Dogecoin in trading volume on major centralized exchanges (CEXs). Last Wednesday, the memecoin represented nearly 50% of all memecoin activity on CEXs, marking its busiest day since mid-February.
Although the initial hype has tempered, analysts expect renewed momentum as the eligibility deadline for the dinner—May 12—approaches. Only the top 220 average TRUMP holders during the April 23 to May 12 window will secure a seat at the table, likely fueling further token movement and speculation.
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