Trump’s meme coin tops crypto charts after gala dinner invitation for largest holders
$TRUMP spiked after an announcement that the top 220 holders of the token would be invited to join the president for dinner.
President Donald Trump’s meme coin has skyrocketed on Wednesday following an announcement that the top 220 $TRUMP holders can join the US president for a black-tie dinner in Washington, DC.
$TRUMP jumped as high as $14.44 before settling in the $13 range, representing a more than 40% increase in the last 24 hours. Among the top 100 cryptocurrencies by market capitalization, the meme coin is the best performer.
According to the meme coin’s website, the top holders will be invited to join the US president for a gala dinner on May 22 at his private Trump National Golf Club in Washington, DC.
In addition to the dinner, the top 25 token holders will be welcomed for a reception and a special VIP White House tour. “At this intimate private dinner, hear first-hand President Trump talk about the future of crypto,” the website states.
The top holder of the meme coin is the official Trump team allocation address, which has 800 million tokens. To get an invite to the party, investors should know this: the 220th top holder owns 27,946 $TRUMP coins valued at almost $374,000, per on-chain data sourced from blockchain explorer Solscan. And to reach the VIP level? Right now, the 25th top holder has 1,072,803 tokens worth $14 million.
Launched in January when crypto industry leaders attended the Crypto Ball, the cryptocurrency has become the fourth-largest meme coin by market cap at nearly $2.7 billion, trailing dogecoin, shiba inu, and pepe.
Last week, $TRUMP faced a 40 million token unlock. However, the project’s organizers revealed today on X that the initial $TRUMP token unlock would be delayed by 90 days, keeping the supply steady at 200 million tokens.
Sage D. Young is a crypto journalist who’s written for CoinDesk and Unchained.
