TLDR
- TRUMP token price surged 80% after announcement of exclusive dinner for top holders
- On-chain transactions increased by 200% with nearly 10,000 wallets active in a single day
- Trading volume reached $2.3 billion, with smaller holders driving most of the activity
- Token team reportedly dumped $20 million worth of tokens to exchanges ahead of the event
- Democratic senators called for an inquiry into the dinner event, raising concerns
The TRUMP token has surges following an announcement about an exclusive dinner event. The controversial memecoin saw its value jump by approximately 80%, reaching around $16 over the weekend.
This recent rally marks a significant reversal in the token’s price action. After being introduced earlier this year, TRUMP initially soared from under $10 to over $70 in just one day.
The token subsequently experienced a major correction, falling to around $7 amid broader crypto market selling pressure.
The momentum shifted when the TRUMP team revealed plans for an exclusive dinner event on April 23.
This announcement specifically promised that the top 220 token holders would be invited to a private dinner.
Even more enticing, the top 25 holders would reportedly have the chance to meet President Trump himself.
TRUMP Price
Trading Activity Explodes
The dinner announcement triggered an immediate and massive response from traders and investors.
Nearly 10,000 wallets transferred TRUMP tokens on the day of the announcement.
This represents a 200% increase in on-chain activity compared to the previous day.
Trading volume surged to approximately $2.3 billion, making it the busiest trading day of the month for the token.
Market analysis firm Kaiko reported that smaller holders drove much of this activity.
Wallets containing less than $100,000 worth of TRUMP tokens accounted for a large portion of the transfers.
The share of wallets transferring smaller amounts of TRUMP jumped from 46% to 75% after the announcement.
Transactions under $1,000 made up 47.2% of active wallets, showing strong retail investor interest.
Exchange Volume Dominance
The token recorded its highest daily trading volume on centralized exchanges since mid-February.
TRUMP’s trading volume even eclipsed major memecoins like Dogecoin (DOGE) during this period.
The token accounted for nearly 50% of all memecoin trading volume on centralized exchanges last Wednesday.
Despite the initial excitement, the token has since pulled back slightly.
As of the latest reports, TRUMP trades at around $13.95, maintaining weekly gains of nearly 70%.
Controversy Emerges
Recent developments have cast a shadow over the token’s rally.
On-chain data reportedly shows that a wallet linked to the TRUMP coin team deposited about $19.6 million worth of tokens to exchanges.
These deposits were spread across major exchanges including Binance, OKX, and Bybit.
The timing of these transfers has raised concerns among market watchers.
U.S. Senators Adam Schiff and Elizabeth Warren have called for an urgent inquiry into the dinner event.
They have requested the U.S. Office of Government Ethics to investigate the matter.
Their filing notes that the announcement led to a surge in investment that increased the token’s value by approximately $100 million.
The exclusive dinner is scheduled to take place on May 22, 2025.
Only the top 220 average holders between April 23 and May 12 will qualify for the event.
This eligibility requirement will likely continue to influence trading activity as the deadline approaches.
The dinner announcement comes during a broader bull run in the cryptocurrency market, characterized by Bitcoin’s resurgence.
While Bitcoin dominance remains high, market participants are watching the TRUMP token situation closely for further developments.
