A private
dinner invitation from Donald Trump sent ripples through the crypto market this
week, triggering a sharp price rally for his namesake token.
The
invitation, revealed on the project’s official website, offers the top 220
holders of the TRUMP meme coin a seat at an exclusive gala dinner with the U.S. President. This event instantly drove demand and speculation around the
controversial token.
Price Surges
on Gala Dinner Reveal
Within hours
of the announcement, which was made on the Trump Meme website, the TRUMP token
surged over 60%, rising from $9.18 to a high of $14.7 before plunging to $12.61,
according to CoinMarketCap data.
The market
responded swiftly as traders speculated on the social and financial value of
gaining direct access to a sitting president. The dinner, scheduled for May 22
at Trump National Golf Club in Washington, D.C., will only be hosted by those who
verify their holdings through a connected digital wallet.
Only the
largest wallet holders will be allowed to attend, and the vetting process is
strict. Participants must pass a personal background check, cannot come from a
KYC watchlist country, and are prohibited from bringing guests. All expenses
related to the event, including travel, accommodation, and transportation, must
be covered by attendees themselves.
Participation
Comes With Strings Attached
The TRUMP
token, launched just days before Trump’s January inauguration, has sparked
waves of controversy since its debut. Critics within the crypto community and
on Capitol Hill have raised concerns that the token could allow anonymous
foreign entities to funnel money directly to a U.S. President.
Source: gettrumpmemes.com
Lawmakers
have warned that the project lacks transparency and could violate campaign
finance or ethics rules. Nonetheless, the promise of exclusive access to Trump
has attracted attention from investors who are willing to take the risk.
Despite
peaking with a market cap of $14 billion shortly after its launch, the token
saw a dramatic pullback, halving in value by January 20. It now trades at a
market cap of roughly $2.6 billion, but the recent rally has sparked renewed
interest and scrutiny.
As the May
22 dinner approaches, the TRUMP token remains in the spotlight, both for its
performance and the political and ethical questions surrounding its existence.
Whether this event marks a turning point or a temporary boost remains to be
seen.
A private
dinner invitation from Donald Trump sent ripples through the crypto market this
week, triggering a sharp price rally for his namesake token.
The
invitation, revealed on the project’s official website, offers the top 220
holders of the TRUMP meme coin a seat at an exclusive gala dinner with the U.S. President. This event instantly drove demand and speculation around the
controversial token.
Price Surges
on Gala Dinner Reveal
Within hours
of the announcement, which was made on the Trump Meme website, the TRUMP token
surged over 60%, rising from $9.18 to a high of $14.7 before plunging to $12.61,
according to CoinMarketCap data.
The market
responded swiftly as traders speculated on the social and financial value of
gaining direct access to a sitting president. The dinner, scheduled for May 22
at Trump National Golf Club in Washington, D.C., will only be hosted by those who
verify their holdings through a connected digital wallet.
Only the
largest wallet holders will be allowed to attend, and the vetting process is
strict. Participants must pass a personal background check, cannot come from a
KYC watchlist country, and are prohibited from bringing guests. All expenses
related to the event, including travel, accommodation, and transportation, must
be covered by attendees themselves.
Participation
Comes With Strings Attached
The TRUMP
token, launched just days before Trump’s January inauguration, has sparked
waves of controversy since its debut. Critics within the crypto community and
on Capitol Hill have raised concerns that the token could allow anonymous
foreign entities to funnel money directly to a U.S. President.
Source: gettrumpmemes.com
Lawmakers
have warned that the project lacks transparency and could violate campaign
finance or ethics rules. Nonetheless, the promise of exclusive access to Trump
has attracted attention from investors who are willing to take the risk.
Despite
peaking with a market cap of $14 billion shortly after its launch, the token
saw a dramatic pullback, halving in value by January 20. It now trades at a
market cap of roughly $2.6 billion, but the recent rally has sparked renewed
interest and scrutiny.
As the May
22 dinner approaches, the TRUMP token remains in the spotlight, both for its
performance and the political and ethical questions surrounding its existence.
Whether this event marks a turning point or a temporary boost remains to be
seen.
