The memcoin’s price surged following the announcement on Wednesday.

The memecoin’s top 220 average holders from April 23 to May 12 will gain an invite to the dinner.

The price of former President Trump’s memecoin has surged following the announcement that the top 220 average holders of the coin will gain an invite to dinner with Trump at the upcoming Trump rally in Columbus, Ohio, on May 13, the memecoin’s website announced on Wednesday.

The memecoin’s top 25 will get to meet Trump at a private VIP reception and “Special VIP” tour of the Trump International Hotel in Washington, D.C. The tour was advertised as a “Special VIP White House Tour” earlier on Wednesday, but that reference has since been struck from the website.

Trump launched his memecoin just days before his January inauguration. The move was condemned by ethics watchdogs and comes as Trump is building a far rosier relationship with the cryptocurrency industry than his predecessor, Biden.

The memecoin is just one of several ways in which Trump and his family are positioning themselves to cash in on crypto. Trump’s sons launched a separate crypto company last year called World Liberty Financial, which is launching a digital token that is pegged to the value of the dollar.

The Trump family crypto ventures could all stand to benefit from industry-backed crypto legislation that is moving on Capitol Hill, but they have also complicated the political dynamics around the issue. Trump’s crypto ties have reportedly angered industry-friendly Democrats, whose support is needed for legislation to clear the Senate. House Financial Services Chair French Hill (R-Ark.), who has pushed for years to enact new rules that would benefit crypto, said last month that the family’s crypto ventures have made his work in Congress “more complicated.”

The president in March also signed an executive order empowering the federal government to build a “strategic reserve” of cryptocurrency assets it seizes through law enforcement proceedings.

The White House did not immediately respond to a request for comment on the ethical implications of the dinner.

But “this Tour is being arranged by Fight Fight Fight LLC, LLC and President Trump is appearing at the dinner as a guest and not soliciting any funds for it,” read a disclaimer on the memecoin's website.

Still, the website sought to play up the competition for a seat at the dinner and encouraged $Trump memecoin holders to invest more heavily in the currency so that they can climb the ranks of the top 220 average balances.

“The Question is... ARE YOU IN? OWN $TRUMP and Climb the Leaderboard Among The Top 220 Average Balances by 11:59pm EST on Friday, April 12th to be Invited to the Dinner With President Trump in Columbus, Ohio on May 13th. Invest Now!” the site urged.

Jasper Goodman contributed to this report.