Donald Trump’s meme coin surged over 60% on Wednesday

after an announcement teased “the most EXCLUSIVE INVITATION in the world” — offering the top 220 buyers of $TRUMP a private gala dinner with the president

Donald Trump’s meme coin surged more than 60% on Wednesday after an announcement teased “the most EXCLUSIVE INVITATION in the world.”

The top 220 buyers of $TRUMP would be invited to a private gala dinner with the president on May 22, it said.

The post added that the top 25 holders would receive “an ultra-exclusive private VIP reception with the President, along with a Special Tour.” The event is to be held at Trump National Golf Club in Washington, D.C.

Despite the hype, the terms noted that “President Trump may not be able to attend” the dinner. In such cases, winners would be given a limited edition TRUMP NFT “in lieu thereof.”

The $TRUMP coin, which was launched ahead of Trump’s January 20 inauguration, saw highs of $74.59 before plunging to $7.14 on April 7.

As of March 12, crypto analytics firm Chainalysis estimated the coin had generated at least $350 million in fees for entities linked to the President.

The Trump family has continued expanding into crypto, unveiling ventures such as a new exchange — World Liberty Financial — and repositioning Trump Media and Technology Group into crypto finance. Trump personally holds a $3 billion stake in the media firm.

Last week, the $TRUMP token was thought to be at risk of collapsing due to the scheduled unlock of 40 million new tokens.

However, the official account on X (formerly Twitter) said on Wednesday that the unlock would be postponed for another 90 days.

Trump has pledged to be America’s first “crypto president,” with his administration already acting to reduce enforcement and loosen regulatory requirements for the sector.

This rapid pivot has raised concerns.

“Trump’s planned dinner with $TRUMP coin holders is a race to the bottom for presidential grifting,” said Tony Carrk, executive director of watchdog group Accountable.US.

“There has never been a clearer case of a president using their office to put money in their pocket, or greater potential for special interests to buy an administration’s favor that could threaten the public interest.”

White House deputy press secretary Anna Kelly responded: “President Trump’s assets are in a trust managed by his children. There are no conflicts of interest.”

Reuters