"Official Trump" meme coin surges as President Trump invites top holders to dinner

This is because President Trump has decided to invite top holders to hold a dinner. This has led to criticism that President Trump is using his position to pursue private interests.

U.S. President Donald Trump is being accused of using his position to benefit private interests as a meme coin, “Official Trump,” issued by Trump, surged.

According to CoinMarketCap on the 24th, the price of the official Trump is $12.21, up 29.07% in 24 hours.

Earlier, the price of the official Trump rose 76% to $15.47.

The reason for the surge in the price of the official Trump is that 220 top holders will be invited to host a dinner with President Trump.

In particular, the top 25 official Trump holders will be able to meet Trump at a VIP reception before the dinner and also participate in a White House tour.

The dinner will be held on the 22nd of next month (local time) at a golf course owned by President Trump near Washington, DC.

Dinner participants will be selected based on the average amount of official Trump holdings as of the 23rd to the 12th of next month. This means that it is advantageous to have the official Trump in large quantities for as long as possible.

In fact, Official Trump encouraged investment in meme coins, saying, "The more you hold it, the longer you hold it, the higher the ranking will be."

As of the 24th, no Korean exchange is trading the official Trump. Among U.S. exchanges, Binance.U.S. and FTX U.S. are trading the meme coin.

Official Trump is publishing a status board on its website that shows the cut line for participating in the dinner.

According to Solscan, the wallet, which currently has a large number of official Trumps as No. 220, is $407,038.31. However, since this is a simple sum of all the exchange volume, the actual cut line may vary.

As a result, criticism is growing that President Trump is exploiting his position for private interests. The Trump family received similar criticism when issuing meme coins named after the official Trump and U.S. first lady Melania Trump.

"[The dinner] is raising concerns that President Trump and his businesses are making money by exploiting their U.S. presidential status," said Victoria Haneman, a professor at Creighton University, in an interview with The New York Times.

The deeper the cooperation between the government and private enterprises, the more difficult it will be to distinguish between the boundaries of public and private interests.

In this regard, the move by President Trump, who is running for the 2024 presidential election, is seen as a step that could undermine the integrity of the government.

Meanwhile, Melania Mimco also jumped more than 30% at one point on the news. At the same time, Melania MemeCoin is up 8.71% at $0.4563.