TRUMP Coin Price Jumps 58% Following Exclusive Dinner Announcement
President Donald Trump's meme coin, TRUMP, has dropped nearly 90% from its peak earlier this year. In a bid to reignite investor interest, the official website announced an exclusive dinner for the top 220 holders at Trump's Virginia golf club on May 22.
Key details include:
- The top 25 investors will also receive a guided tour of the White House.
- Business affiliates of Trump reportedly hold significant TRUMP Coin reserves, generating around $100 million in transaction fees during its early trading.
- The announcement led to a price surge of 58%, reaching $14.32 before stabilizing around $12.50.
- 24-hour trading volume increased over 500% to $5.04 billion.
- The holding period for ranking is set from April 23 to May 12, encouraging sustained purchases.
Critics are challenging the ethics of monetizing political influence through such events. Senator Chris Murphy labeled it as “the most brazenly corrupt thing a President has ever done.”
Trump's crypto activities extend beyond TRUMP Coin; he previously launched World Liberty Financial (WLFI), claiming to sell 550 million tokens.