TRUMP memecoin Surges 40% After Dinner Invitation Announcement

In a notable display of interest in President Donald Trump's exclusive dinner for TRUMP memecoin holders, investors reportedly spent over $140 million

Investors reportedly spent over $140 million on TRUMP memecoin to secure an invitation to President Donald Trump’s exclusive dinner, which is set to take place at the Trump National Golf Club.

This was revealed by data analytics firm Inca Digital, which noted that the announcement of the dinner event significantly boosted the value of the memecoin.

TRUMP Surges 40% After Dinner Invitation Announcement

On April 23, it was revealed that the top 220 holders of the memecoin as of May 12 would be granted access to a dinner with the President. This news brought a major 40% surge in the token’s value, partially reversing an 88% decline seen in the weeks leading up to the announcement.

Buyers of the memecoin reportedly invested amounts ranging from $53,500 to a staggering $16.4 million to secure their invitations.

According to Inca Digital’s analysis, the largest holder by the contest’s end was an account identified as Sun VIP. However, the anonymity of digital wallets means the true identities of these holders remain undisclosed.

Austin Ryan, director of marketing for Inca Digital, noted that the movement of funds through these international platforms suggests many buyers are operating outside US jurisdictions.

This has significantly raised concerns among government watchdogs and Democratic lawmakers about the implications of purchasing a Trump-branded asset for access to the President.

Potential Conflicts As Dinner Date Nears

Critics highlight that the TRUMP coin is partially owned by an affiliate of the Trump Organization, creating a potential conflict of interest. They argue that Trump and his family could financially benefit from the sales of the meme coin, further complicating the ethics of such a promotion.

Tony Carrk, executive director of the watchdog group Accountable.US, expressed concerns over the anonymity of the top holders, stating that their identities remain hidden behind crypto usernames.

The exclusive dinner for the memecoin holders is scheduled for May 22 at the Trump National Golf Club in Washington, D.C., where the top 25 holders will enjoy a private VIP reception with the President, along with a special tour of the venue.

Currently trading at $13.52, the memecoin has surged