TRUMP Memecoin Surges 60% After Unveiling Presidential Dinner for Top Holders

Just six days after $300 million in team token unlocks, the sitting President of the United States is adding utility to his memecoin by hosting a dinner for top holders.

TRUMP surged nearly 60% on the news to a $14 billion valuation.

Touted on the website as “the most exclusive invitation in the world,” the top 220 holders will be able to join Trump for an “intimate private dinner” on May 22, where they can listen to President Trump discuss crypto.

The top holders must connect their wallets to verify their holdings and register for a leaderboard on the website, and the top 25 holders are privy to a reception before dinner with President Trump.

For any prospective buyers, attending the event would be extremely expensive. Currently, the 220th largest holder holds $407,000 worth of TRUMP, and the 25th-place holder has $14 million.

However, these costs will likely be reduced as a number of top holders consist of the team and various exchanges that will likely not redeem the invitation.

This is not the first time Trump has offered his crypto community personal access to him. The president’s latest NFT collection, which was released in August, allowed those who spent $7,500 on 75 Trump cards to attend a gala event at Mar-a-Lago, the president’s resort in Palm Beach, Florida.