Main Insights:
- TRUMP token surged over 70% after announcing a dinner with President Trump for token holders.
- The event follows a $300 million release of TRUMP tokens into circulation, with further releases expected in July.
- Initially criticized upon its launch in January as Donald Trump’s “official” cryptocurrency.
What Happened:
The TRUMP token began to gain traction on Wednesday when an invitation to a dinner with the President appeared on the project’s official website. The announcement read: “Join President Donald J. Trump at his Private, Members-Only Club in Washington, D.C. for Dinner!”
This invitation is extended to the 220 largest token holders as outlined on the event’s website.
Invitation Example
Webpage for the TRUMP Dinner (GetTrumpMemes.com)
After this announcement, the token value briefly peaked at $16—its highest since early March—before settling again below $13, still representing a significant 43% increase in value within the last 24 hours.
Despite this increase, the TRUMP token still trades more than 80% lower than its January record price of $73. Around 75% of existing tokens remain locked, with another significant release scheduled for July that could introduce $600 million worth of additional tokens into the market.
