The official memecoin of President Donald Trump, TRUMP, skyrocketed in price on April 23 following the announcement of an exclusive dinner invite for the top 220 holders of TRUMP.
The token is trading at $14.76 before witnessing a 66.12% increase in 24 hours, returning to its highest price since the beginning of March, CoinGecko indicated.
The invitation-only dinner will be held on May 22 in Washington, DC, as published on the project's official site. To attend the dinner, holders must pass a background check, cannot be from a KYC-watch list country, and there are no guests allowed. The guest list is unknown, but rumor has it that anonymous whales will be making their appearance at the dinner.
The TRUMP token was originally launched on January 17, just three days before President Trump's second term started. As can be expected, there has been a variety of reactions to the TRUMP token, some good, some bad!
There have been several alerts raised by regulators and other crypto experts on transparency, as per reports . Many lawyers have also questioned whether the project team owns 80% of the total supply, which indicates centralized power and opportunities for political donations.
Regardless of the questions surrounding the project, the dinner invite announcement has brought demand back to TRUMP, sending its market cap soaring once again, sitting at $2.57 billion at press time.
