The $TRUMP meme coin surged more than 60% on Wednesday after a promotional post teased "the most EXCLUSIVE INVITATION in the world." The announcement offered a private gala dinner with former President Donald Trump to the top 220 buyers of the token. The event is scheduled for May 22 at Trump National Golf Club in Washington, D.C.
What Is the Trump Meme Coin?
The Trump meme coin is a fungible cryptocurrency, similar to other digital assets used for transactions and speculative trading. It was launched on the Solana blockchain network.
The $TRUMP coin, which launched ahead of Trump’s January 20 inauguration, reached a peak of $74.59 before crashing to $7.14 on April 7.
Despite expectations of a crash due to a scheduled release of 40 million new tokens, the project’s X (formerly Twitter) account announced a 90-day delay in the token unlock, giving the coin a temporary boost.
VIP Access and Exclusive Experiences for Top Holders
According to the post on a website promoting the cryptocurrency, the top 25 $TRUMP holders will also receive access to an “ultra-exclusive private VIP reception with the President” and a “Special Tour.” These rewards are part of a broader initiative to engage supporters and investors through exclusive perks.
Trump Family Deepens Crypto Involvement
The dinner invitation marks the latest chapter in the Trump family's growing involvement in cryptocurrency. Their ventures include:
World Liberty Financial – a new crypto exchange
Trump Media & Technology Group's pivot toward crypto finance
Trump's Pledge: "America’s First Crypto President"
Donald Trump has positioned himself as a champion of digital finance, promising to become America’s first “crypto president.” His administration has taken steps to reduce crypto regulation and enforcement, a move welcomed by some in the industry.
Critics argue that the Trump family’s business interests in cryptocurrency raise serious ethical questions, especially given Trump’s influence over industry regulations.
Cryptocurrency ETFs at a Month-High
Bitcoin, the world’s largest cryptocurrency, has been steady lately despite tariff tensions. Bitcoin has gained 8.7% past week and 6.9% past month versus SPDR S&P 500 ETF Trust SPY’s weekly gain of 0.7% and monthly fall of 6.7%. Ethereum prices gained 9.8% past week, although it lost 12% past month.
Against this backdrop, Simplify Bitcoin Strategy Plus Income ETF MAXI, Solana ETF SOLZ, Hashdex Nasdaq Crypto Index US ETF NCIQ, FT Skybridge Crypto Industry and Digital Economy CRPT and Fidelity Wise Origin Bitcoin Fund FBTC have been hovering around a 52-week high levels. Several other bitcoin ETFs too are at the month-high level.
Over the past month, ETFs MAXI, SOLZ, NCIQ, and FBTC have posted gains of 11.4%, 3%, 3.1%, and 6%, respectively. In contrast, the CRPT ETF has declined by 1.5%.
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SPDR S&P 500 ETF (SPY): ETF Research Reports First Trust SkyBridge Crypto Industry and Digital Economy ETF (CRPT): ETF Research ReportsThis article originally published on Zacks Investment Research (zacks.com).
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