Key Takeaways
- The price of the $TRUMP meme coin surged 50% following an invitation to a private dinner with the US President.
- President Donald Trump has invited the top 220 holders to dinner at a golf club.
- $TRUMP has generated $350 million in fees, Chainalysis says.
The value of the $TRUMP meme coin, associated with US President Donald Trump, has jumped over 50%.
The price spike follows an official invitation by the President to the top 220 holders of the digital token to an “intimate private dinner” with the President on May 22. According to the website marketing the coin, the invitation said:
“Our leaderboard updates hourly in real-time. Your $TRUMP coin count puts you in the running. The competition is fierce. Own $TRUMP — or watch from the sidelines.”
Dinner with YOUR FAVORITE PRESIDENT
According to a statement on the meme coin website, the top 25 holders of the coin would also get “an ultra-exclusive VIP reception with the president,” as well as a special tour. On the bonus for the top 25, the statement said:
“An Exclusive Reception before Dinner with YOUR FAVORITE PRESIDENT!”
Following the dinner offered on the $TRUMP meme coin website and X account, the value of the meme coin spiked by as much as $5.32, or 58%, to $14.32 on Wednesday afternoon. The gain partially erased the decline in value from the all-time high of $75.35 on January 19, the day before Mr. Trump’s inauguration.
Lost Their Value Tremendously
According to the statement, the investors will have the privilege to “Hear close-up, from President Trump, about the future of Crypto!” President Donald Trump has promised to turn the US into the crypto capital of the world. He has ventured into the crypto space with interests in different areas, including NFTs billed as “Trump digital trading cards” and a cryptocurrency platform called World Liberty Financial. CIC Digital LLC, an affiliate of The Trump Organization, and Fight Fight Fight LLC together own 80% of the meme coins.
Both Trump and the first lady, Melania Trump, launched meme coins a few days before the President’s inauguration, but both tokens have since lost their value tremendously. The $MELANIA meme coin is priced at 49 cents, down from the all-time high of $13.76 on January 20.
Conclusion
During his first term, Trump was hugely skeptical about cryptocurrencies, but he has since transformed himself into a crypto President, promising to support the sector’s growth. Last March, Trump hired venture capitalist David Sacks as an artificial intelligence and crypto czar and established a national stockpile of Bitcoin and other cryptocurrencies. However, the $TRUMP meme coin gala dinner promotion has drawn criticism from lawmakers and anti-corruption groups. Sen. Chris Murphy called the offer the “most brazenly corrupt thing a President has ever done.”
Frequently Asked Questions
What is the meme coin associated with Trump?
The $TRUMP meme coin was launched on January 17, 2025, three days before Trump was inaugurated as President of the United States.
What is the danger of meme coins?
Meme coins are subject to unpredictable price swings, leading to potential gains or significant losses. Lack of fundamental value: Most meme coins lack real-world applications, strong development teams, or long-term viability.
Are meme coins illegal?
While the offer and sale of meme coins may not be subject to federal securities laws, fraudulent conduct related to the offer and sale of meme coins may be subject to enforcement action or prosecution by other federal or state agencies under federal and state laws.
