Trump meme coin skyrockets following new gala luncheon invitation for largest holders
President Trump’s meme coin has risen 54.6% in the last 24 hours to trade at a more than one-month high. The token’s price performance is outpacing an overall rise throughout the wider crypto industry, boosting its total market capitalization 4.3%.
What’s driving it? Something we’ve seen before: on Thursday, GetTrumpMemes announced that the top 297 holders of $TRUMP will have the opportunity to attend a gala luncheon next month at Mar-a-Lago, where the president will be a keynote speaker.
Last year a similar competition was announced, and the top $TRUMP whales attended a dinner with him at the Trump National Golf Club in Washington, DC, drawing supporters, critics, and protestors to the event.
Despite the recent spike, the cryptocurrency is down 94.2% from its all-time high of $73.43, set the day before Trump’s inauguration last year, when it topped a $70 billion valuation.