Friday, April 25, 2025 - The value of Donald Trump’s meme
cryptocurrency, $TRUMP, jumped over 50% following an announcement that the top
220 token holders would be invited to a private gala dinner with the U.S.
president on May 22.
According to the official website, the top 25 holders will
also receive access to an “ultra-exclusive VIP reception with the president”
and a “special tour.”
After the announcement, the price of $TRUMP surged to
approximately $14.70 before settling around $12.30 in early Thursday trading,
based on data from CoinMarketCap.
Despite the recent spike, the token remains well below its
January peak of $75, which occurred briefly ahead of Trump’s inauguration. The
Trumps’ growing involvement in cryptocurrency has drawn criticism, with some
experts citing potential ethical concerns and labeling the ventures “shameful.”
The latest price rally coincided with speculation surrounding
an upcoming “unlock” process, a typical event where early investors are
permitted to sell their holdings, often triggering a price drop. However, the
coin’s official X account confirmed that the unlock would be postponed by 90
days.
Meme coins like $TRUMP are known for being driven by online
hype rather than utility, and often experience steep declines once initial
enthusiasm fades. Last year, a meme coin launched by influencer Haliey Welch
briefly reached a $490 million valuation before plummeting to under $3 million.
Trump was previously skeptical of cryptocurrencies, he has
recently embraced the industry, referring to himself as the “crypto president”
and vowing to support its growth. In March, he appointed venture capitalist
David Sacks as an advisor on artificial intelligence and crypto and proposed
creating a national reserve of digital assets, including bitcoin.
The Trump
family’s crypto activity has expanded in recent months. In January, Melania
Trump launched her own meme coin, and last year the former president and his
sons introduced a digital finance venture, World Liberty Financial.
Trump Media and Technology Group, where Trump holds a majority stake, also announced a partnership with Crypto.com to develop crypto-related investment products.
0 Comments