$TRUMP is what is known as a meme coin - a type of cryptocurrency inspired by internet memes or viral online trends. By Cointelegraph By Rian Hunter Updated April 18, 2024
The value of $TRUMP, a meme coin named after former President Donald Trump, has soared and then largely imploded, experts noted amid the experts' skepticism over such assets.
The price of the token, which is used to purchase NFTs of Trump, peaked at $75 in January before plummeting to less than $8 in April, according to CoinGecko. It was trading at around $12.50 at the time of writing.
The token's creators said they were planning to retire it after the dinner.
The dinner, which is being held at Trump's golf course near the nation's capital, is advertised on the website gettrumpmemes.com as "the most EXCLUSIVE INVITATION in the World."
The top 220 purchasers of the meme coin, who are viewable on a leaderboard, received invitations to the "black-tie optional" event.
The top investor in the $TRUMP meme coin is billionaire crypto entrepreneur Justin Sun, who was charged with fraud and market manipulation by the US Securities and Exchange Commission during the Biden Administration.
However, the Trump administration has now paused the case.
Sun said this week on the social media platform X that he planned to attend the dinner, calling himself Trump's "TOP fan!"
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