The Official Trump cryptocurrency (TRUMP) has experienced a remarkable price surge

Trading data shows TRUMP currently hovering around $14.40, with daily trading volume reaching between $1.8-1.9 billion.

The Official Trump cryptocurrency (TRUMP) has experienced a remarkable 12.40% price surge in the past 24 hours, making it one of the top performers in the crypto market.

This upward movement is fueled by several key developments and growing investor confidence, which has sparked renewed interest in the token.

As of the last update, TRUMP is currently trading at $14.40, following a 146% surge in daily trading volume to reach $1.8-1.9 billion, according to CoinGecko’s data.

A shift in market sentiment towards a bullish outlook on Thursday has also contributed to the token’s rally. Open Interest in the derivatives market has climbed by 28.42%, reaching $724.48 million as traders engage more actively in TRUMP positions.

Analysis of the Long-to-Short Ratio, currently at 1.0141, reveals that buyers have gained the upper hand in the futures market. This buying pressure is further evident in the OI-Weighted Funding Rate, which has been steadily moving upwards since May 18, marking four consecutive days of bullish momentum.

VIP Dinner Drives Demand

A major catalyst for the current price action is the upcoming exclusive dinner hosted by President Trump for the token’s largest holders. Scheduled for May 22 at Trump National Golf Club near Washington, D.C., this invitation-only event has been described as “the most exclusive invitation in the world.”

Only the top 220 TRUMP holders will receive invitations to this black-tie-optional dinner. The 25 largest wallets among these will enjoy special VIP perks, including a private reception with Trump and a guided tour of Washington, D.C.

This reward structure has already proven effective at moving markets. When first announced in April, the dinner caused the TRUMP token price to spike more than 50%, followed by a brief pullback once details were clarified.

According to reports, qualifying for the dinner requires holding at least 4,196 TRUMP tokens, which at earlier prices would amount to around $55,000. The top wallets on the leaderboard contain hundreds of thousands or even millions of coins.

Justin Sun’s Involvement

Billiard crypto investor Justin Sun has confirmed that he holds the largest position in TRUMP tokens, further contributing to the recent price surge.

On May 20, Sun, who founded Tron and serves as a crypto adviser to Trump, announced his attendance at Thursday’s dinner via social media.

Blockchain records confirm Sun’s substantial stake, with his wallet controlling over $21 million worth of TRUMP tokens. His public endorsement and participation in the leaderboard race are viewed as confidence boosters for smaller investors.

Moreover, analysis of spot market data shows a shift in trading patterns, with Exchange Netflow decreasing substantially as traders purchased $5.84 million worth of TRUMP from the market, following the previous day’s sell-off of $11.80 million.

This suggests that while profit-taking temporarily dominated on Wednesday, the overall market stance remains bullish as traders appear to be accumulating more of the token.

From a technical analysis perspective, TRUMP has broken out of its recent trading range and is showing bullish signals. The token has bounced off its 20-day exponential moving average (EMA) at around $12.99, using that level as dynamic support.

The Directional Movement Index on the daily chart shows the positive directional index clearly above the negative index, and the gap is widening. Technical analysts typically interpret this pattern as indicating stronger bullish than bearish momentum.

Market confidence in TRUMP is at an all-time high, with 73.64% of investors now expecting the price to continue rallying, up from 64.71% in the past 24 hours.

President Trump’s affiliates, through CIC Digital LLC and Fight Fight Fight LLC, control 80% of the token supply, highlighting how tightly the project is managed by Trump’s inner circle.

If the current momentum holds, technical analysts suggest TRUMP could be en route to targeting the $19 level, although a reversal below the 20-day EMA at $12.99 could negate the short-term uptrend.