Crypto
Trump Token meme logo
$TRUMP token meme logo on phone with its website in the background (Omar Marques/Getty Images)

Trump’s meme coin tops crypto charts after gala dinner invitation for largest holders

$TRUMP spiked after an announcement that the top 220 holders of the token would be invited to join the president for dinner.

Sage D. Young

President Donald Trump’s meme coin has skyrocketed on Wednesday following an announcement that the top 220 $TRUMP holders can join the US president for a black-tie dinner in Washington, DC. 

$TRUMP jumped as high as $14.44 before settling in the $13 range, representing a more than 40% increase in the last 24 hours. Among the top 100 cryptocurrencies by market capitalization, the meme coin is the best performer.

According to the meme coin’s website, the top holders will be invited to join the US president for a gala dinner on May 22 at his private Trump National Golf Club in Washington, DC. 

Screenshot of Trump’s meme coin promotion
Luckily, black tie is optional (Screenshot via gettrumpmemes.com)

In addition to the dinner, the top 25 token holders will be welcomed for a reception and a special VIP White House tour. “At this intimate private dinner, hear first-hand President Trump talk about the future of crypto,” the website states.

The top holder of the meme coin is the official Trump team allocation address, which has 800 million tokens. To get an invite to the party, investors should know this: the 220th top holder owns 27,946 $TRUMP coins valued at almost $374,000, per on-chain data sourced from blockchain explorer Solscan. And to reach the VIP level? Right now, the 25th top holder has 1,072,803 tokens worth $14 million.  

Launched in January when crypto industry leaders attended the Crypto Ball, the cryptocurrency has become the fourth-largest meme coin by market cap at nearly $2.7 billion, trailing dogecoin, Shiba inu, and Pepe.

Last week, $TRUMP faced a 40 million token unlock. However, the project’s organizers revealed today on X that the initial $TRUMP token unlock would be delayed by 90 days, keeping the supply steady at 200 million tokens.

Sage D. Young is a crypto journalist who’s written for CoinDesk and Unchained.

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XRP ETFs have now crossed $1 billion in assets since the funds launched, according to SoSoValue, which shows total assets of $1.18 billion.

In September, the SEC approved generic listing standards, which paved the way for speedier listings and opened the floodgates for these products, and shortly after, Rex-Osprey launched the first spot XRP ETF available in the US.

Canary followed suit in November, launching an ETF trading on the Nasdaq under the ticker XRPC, which saw a record $58.5 million in trading volume on its first day. It’s the largest XRP ETF in the US, with $342 million in assets.

Grayscale, Bitwise, and Franklin Templeton also launched their own XRP ETFs in November. On December 11, 21Shares joined the XRP fund party.

It’s a noteworthy green shoot in the crypto space, as bitcoin and its ETFs have struggled, and XRP itself is down nearly 15% over the past month.

Jake Hanley, managing director and senior portfolio specialist at Teucrium Investment Advisors — which launched the first-ever XRP-based ETF in April, the 2x Long Daily XRP ETF — told Sherwood News that he is not surprised to see this level of interest in the XRP ETFs.

“We have long held that XRP and the Ripple ecosystem present a unique investment case among crypto assets. Crossing the $1 billion mark is yet another signal of the significant vote of confidence investors have in this increasingly important asset and ecosystem,” Hanley said.

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The Nicholas Bitcoin and Treasuries AfterDark ETF provides long bitcoin exposure during US overnight hours, from the closing bell until the following morning’s market open, when the fund intends to unwind its positions, according to a document filed with the SEC on Tuesday. 

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