Official Trump meme coin soars ahead of Trump’s gala dinner with top holders
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The Trump-themed cryptocurrency, known as the Official Trump meme coin ($TRUMP), has witnessed a sharp rise in value just a day before the highly anticipated gala dinner hosted by President Donald Trump.
This unexpected price surge comes at a time when most major cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH), are trading sideways with minimal volatility.
The $TRUMP token has climbed nearly 9% within 24 hours, signalling renewed interest and liquidity among investors eager to capitalise on the political and media frenzy surrounding the token.
Adding to the momentum, trading volume for the memecoin has jumped 120% to reach $1.45 billion, highlighting a dramatic increase in short-term demand and speculative activity.
The gala dinner at Trump’s Virginia golf club
The highly anticipated exclusive gala dinner set to take place at Trump’s Virginia golf club on March 22 is seen as the main catalyst for the TRUMP price surge.
Notably, only the top 220 holders of the $TRUMP token will gain access to this private event, with the top 25 holders granted entry to a special VIP reception.
Interestingly, one of those elite guests is Justin Sun, the founder of the Tron blockchain, who confirmed this week that he is the top holder of the TRUMP token.
Sun currently holds $18.6 million worth of the memecoin and expressed excitement about discussing the future of the crypto industry with Trump and other key figures.
Sun had also revealed that Tron DAO had previously invested $75 million into World Liberty Financial, a Trump-affiliated crypto platform that redirects 75% of its revenue to Trump-owned entities.
Altogether, Sun’s total investment in Trump’s crypto ecosystem now exceeds $93 million, raising eyebrows among watchdog groups and political analysts alike.
Questions around the Gala dinner
As TRUMP memecoin makes waves, the US SEC has acknowledged that meme coins like TRUMP are generally considered collectables, not securities, which currently shields the token from enforcement actions.
Nonetheless, SEC Chairman Paul Atkins faced intense questioning in Congress regarding the legality and ethics of the gala dinner and the wider implications of foreign investors gaining intimate access to a former US president.
The highly anticipated dinner event has drawn criticism from Democratic lawmakers and nonprofit watchdogs, who allege that it paves the way for foreign influence and unregulated political fundraising.
Accountable.US, a government watchdog, described the situation as “corruption unfolding in real time,” pointing to the opaque mechanisms that allow massive investments to translate directly into personal access.
Despite the controversy, the $TRUMP token has continued to surge, with its price climbing to $14.31 and its market cap approaching $2.9 billion.
The token now ranks among the top 50 cryptocurrencies by market capitalisation, outperforming many established assets in recent days.
However, concerns remain about the centralisation of supply, as nearly 80% of the TRUMP token is reportedly controlled by the Trump Organisation and its affiliates.
This high concentration of ownership, combined with Sun’s substantial stake, raises potential risks of price manipulation and insider influence.
At the same time, the meme coin’s lack of underlying utility or technical innovation continues to draw scepticism from traditional investors.
Even so, the blend of political spectacle, celebrity appeal, and digital finance has created a unique narrative that seems to defy conventional market behaviour.
The post Official Trump meme coin soars ahead of Trump’s gala dinner with top holders appeared first on Invezz
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