Key Notes
- The Official Trump meme coin surged 58% after a private dinner announcement for its top 220 holders.
- Trading volume skyrocketed over 500%, reaching $5.04 billion in just 24 hours.
- Critics accuse Trump of using White House access to fuel demand for the token.
After watching his meme coin, Official Trump
TRUMP
$12.09
24h volatility:
29.5%
Market cap:
$2.41 B
Vol. 24h:
$5.50 B
, plunge nearly 90% from its highs earlier this year, United States President Donald Trump may have found a fresh way to revive investor interest.
On April 23, the official website for TRUMP Coin, a meme cryptocurrency launched under Trumpโs name, announced that the top 220 holders of the token are being invited to an โintimate private dinnerโ with the President at his Virginia golf club on May 22.
The top $TRUMP Coin holders will have a private DINNER WITH PRESIDENT TRUMP on May 22nd at the BEAUTIFUL Trump National Club in Washington, D.C. It will be a night to remember! Thank You! And Have Fun!ย
Click Here For Details:ย https://t.co/Nm31BxQGx5
โ TrumpMeme (@GetTrumpMemes) April 23, 2025
The top 25 investors will also witness an exclusive reception and a guided tour of the White House.
Business entities linked to the Trump family reportedly hold large TRUMP Coin reserves and benefit from transaction fees. A January report revealed nearly $100 million in revenue generated from these fees alone during the coinโs early trading days.
TRUMP Price Surges
The announcement, described as โthe most exclusive invitation in the world,โ triggered an immediate surge in the TRUMP price. The tokenโs value rallied by as much as 58% to $14.32 on April 23 before cooling slightly.
โThe more $TRUMP you hold โ and the longer you hold it โ the higher your ranking will be,โ the official site explains, outlining a holding period from April 23 to May 12. It incentivizes large-scale and sustained purchases, fueling short-term demand.
The announcement has resulted in a frenzy, with TRUMPโs 24-hour trading volume surging by over 500% to $5.04 billion. According to CoinMarketCap data, the token currently trades around $12.50.
Angry Critics
The surge has reversed some of the coinโs massive drop since peaking at $75.35 in January. However, the dinner invitation is now under scrutiny from opponents and ethics watchdogs.
Critics argue that Trump is effectively monetizing his political power, offering potential access to the White House in exchange for boosting his meme coinโs market cap.
Sen. Chris Murphy (D-CT) called the dinner-for-investment model โthe most brazenly corrupt thing a President has ever doneโ.
This isnโt Trump just being Trump. The Trump coin scam is the most brazenly corrupt thing a President has ever done. Not close. https://t.co/CpDuxmS13d
โ Chris Murphy ๐ง (@ChrisMurphyCT) April 23, 2025
Another X user Dday stated on X that this just might be โa long way outside the realm of [Trumpโs] Presidential duties and subject to legal recourseโ.
I am no lawyer, but I would suggest this just might be a long way outside the rhelm of his Presidential duties and subject to legal recourse.
โ DDay (@DDay1152862) April 23, 2025
Lawmakers like House Financial Services Chair Frank Hill (R-AR) have publicly admitted that Trumpโs crypto dealings complicate legislative efforts.
Notably, the TRUMP coin isnโt Trumpโs only crypto endeavor. Last fall, he and his sons launched World Liberty Financial (WLFI), which claims to have sold 550 million tokens.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
