$TRUMP Jumps 50% After Memcoin Holders Invited To Dinner With Trump

Trump’s memecoin jumped 50% in price on Wednesday after the crypto project’s website announced that the top 220 $TRUMP holders would be invited to a dinner with the US president on May 22.

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«”Have dinner in Washington, D.C. with President Trump,” reads a message on the homepage of the memecoin website. There is a formal dress code for guests of the event. The following day, there will be a “VIP tour of the White House.” It is also reported that the 25 largest holders of the memecoin wallets will be present at the dinner with the president.

Following the price increase, the total value of $TRUMP in circulation reached $2.7 billion. According to CoinMarketCap, the Trump memecoin has shown the biggest growth of all cryptocurrencies, overtaking Sui, which rose by 23%.

Trump Memcoin debuted in January, just before the new president’s inauguration. The project’s market cap almost immediately soared to $15 billion on the back of his promises to become a “crypto president.” However, within days, the memcoin lost most of its value.

Following her husband’s example, Melania Trump also issued her own coin, $MELANIA, whose market cap briefly exceeded $2 billion before collapsing along with $TRUMP.

Shortly after the launch of $TRUMP and $MELANIA, the US Securities and Exchange Commission (SEC) issued guidance that meme tokens are not considered securities, effectively shielding these crypto projects from regulatory scrutiny.

There is currently only 20% of the $TRUMP supply in circulation. The remaining 80% is owned by the Trump Organization and affiliates. It remains locked up as part of a three-year vesting schedule. The first tranche is scheduled to be released soon. So the upcoming dinner will allow Trump and project insiders to profit from the rising price of $TRUMP.