TRUMP Token Surges 65% After Exclusive Dinner Event Announcement

President Trump's official Solana-based meme coin, TRUMP, experienced a significant surge on Wednesday following the announcement that top token holders would have the opportunity to dine with the President at his private golf club in the United States’ capital. This event is set to take place on May 22 at the Trump National Golf Club in Washington, D.C., and will be attended by the top 220 average $TRUMP holders.

To participate, users are required to provide their full legal name, email address, phone number, and access to their Solana wallet, which holds the tokens. The ranking of holders will be determined by the amount of $TRUMP they hold from April 23 to May 12. The more $TRUMP a holder possesses and the longer they hold it, the higher their ranking will be. This information is available on the project’s website, which also features a leaderboard that was shared on April 23.

Among the 220 attendees, the top 15 $TRUMP holders will be invited to an exclusive reception before dinner with the President. Additionally, these top holders will receive a VIP White House Tour. This announcement has generated considerable excitement among crypto traders, leading to a substantial increase in the token's price shortly after the dinner announcement.

The news of the exclusive dinner event has had a notable impact on the value of the $TRUMP token. According to available data, the token's price surged by approximately 65% to reach 14.44, marking its highest price since early March. However, the price later receded to 13.37. Despite this surge, the token remains roughly 80% below its all-time high.

The gala is scheduled to take place shortly after the release of about $300 million worth of previously locked-up TRUMP tokens into circulation on April 18. It is important to note that 75% of $TRUMP’s ultimate 1 billion token supply is allocated for the project’s creators and owners, including Trump himself. The next unlock is planned for July and will increase the supply by over $600 million coins.

In addition to the $TRUMP token, Trump's wife, Melania, launched her own meme coin in January, shortly after the rollout of $TRUMP. Since returning to the Oval Office for his second term, Trump has adopted a more lenient approach to crypto, appointing agency chairs who are viewed as pro-crypto and recently hosting the first-ever White House crypto summit.