The Latest Frenzy in the Meme Coin Market Centers Around $TRUMP

The latest frenzy in the meme coin market centers around $TRUMP, the cryptocurrency named after U.S. President Donald Trump. Its price jumped more than 25%

The latest frenzy in the meme coin market has seen $TRUMP, the cryptocurrency named after U.S. President Donald Trump, experience a remarkable surge in price. The token's value soared more than 25% in a single day after the project announced a unique incentive: a private dinner with Trump for the top 220 token holders.

The Trump National Golf Club in Washington, D.C., will host an exclusive dinner on May 22 with President Donald Trump, inviting the top 220 holders of the $TRUMP meme coin. Additionally, the top 25 wallets will be personally greeted by the president at a VIP reception and receive a private tour.

The announcement has energized investors, pushing the coin's price upward from around $9 to nearly $14.70 before pulling back to the $12–$12.30 range. According to Brave New Coin data, the coin's value shot up by over 24% within 24 hours of the news.

"The more $TRUMP you hold—and the longer you hold it—the higher your ranking will be," mentions the project's website, which displays a real-time leaderboard to track eligible participants.

However, the dinner invitation has also sparked controversy. Critics argue that the event is less about political engagement and more about a high-stakes marketing stunt targeted at whale investors. To secure a top-220 spot on the leaderboard by May 22, reports suggest that individuals would need to hold $TRUMP tokens valued at approximately $400,000.

Crypto influencer Jacob Bury weighed in on X (formerly Twitter), highlighting the aggressive marketing mechanics at play: "It’s a clever gamification of access. The offer has clearly worked, judging by the price reaction."

Other voices expressed concerns over the broader implications. Tony Carrk from Accountable.US called it "a bidding war over who can buy the most access," while Senator Chris Murphy labeled the move "brazenly corrupt" in a post.

Despite previously being a vocal critic of cryptocurrencies, President Trump has embraced the industry throughout his second presidential run. He now calls himself the “crypto president” and has pledged to make the U.S. the global hub for digital assets.

His administration has rolled out policy changes aimed at loosening crypto oversight, including a controversial move by the Department of Justice to disband a division focused on digital asset fraud.

Moreover, Trump has launched multiple initiatives in the crypto space. These include Trump Digital Trading Cards (NFTs), a crypto investment platform called World Liberty Financial—which he runs with his sons—and a growing presence in meme coin culture. Melania Trump has also joined the market with her own digital token, $MELANIA, though it has dropped significantly in value since launch.

Technical analysts are divided on the token's next move. The surge above $14 marks a key resistance level, and unless the token can break above it with sustained volume, a pullback is likely. Current support sits around $10.00–$10.50, while a successful breakout could push the price toward the $16.00 mark in the short term.

Despite the meme coin's limited utility and high volatility, short-term traders are closely monitoring the situation. The delay of a planned token "unlock" event—which was set to release large amounts of supply—has further extended bullish sentiment, with insiders hinting at a 90-day postponement.