The official Trump token recorded a meteoric surge on Wednesday after Donald Trump announced a dinner with exclusive holders of the meme coin.

Token Soars 50% as Donald Trump Announces Dinner with Exclusive Holders of the Meme Coin

The official Trump token price soared on Wednesday after former president Donald Trump announced a dinner with exclusive holders of the meme coin.

The dinner, which is set for 6:00 PM ET on May 22 at the Trump National Golf Club in Washington, DC, will be open to only 220 holders of the Solana-based Trump token.

According to the website post, the meeting is part of the president’s effort to incentivize holding the token, which is down 84% from its all-time high of $77.24.

Trump Hadner: A Limited-Time Event

The Trump token team announced that it would be selecting the top 220 holders during the period between April 23 and May 12. The selection will not just be exclusive to the number of tokens you own, but also for how long you hold the tokens.

Following the announcement, the project shared a leaderboard tracking the qualified holders for the invite-only dinner. The positions of holders, who are required to register on the website, are updated in real-time.

Meanwhile, the top 25 Trump meme coin holders, as per the leaderboard, would receive an invitation to an exclusive reception before dinner with the US president. Also, those in the top 15 would receive extra perks, including a VIP reception and a tour around the White House.

Remarkably, the project noted that Trump would discuss the future of cryptocurrency at the May 22 gala dinner.

Trump Token Reacts as User Misses Out Big

The Wednesday announcement has had a massive impact on the Trump meme coin, boosting its prices amid a recent sideways trend. The token surged over 50% to an intraday high of $16.17 before relinquishing some of its gains to close at $13.29. Furthermore, the asset has continued to correct, trading at $12.20 at the time of writing.

Meanwhile, a user missed out big on the Trump rally yesterday. On-chain analytical firm Lookonchain shared that a wallet dumped all its 630,399 TRUMP stash hours before the announcement, missing out on a staggering profit.

For context, the whale created two new Solana wallet addresses on April 16 and spent $5 million USDC to buy 630,399 TRUMP at $7.93. Yesterday, the user sold all the stash for $5.48 million, making a profit of $483,000. Had he held for a few more hours, Lookonchain noted that his gains would have exceeded $4.5 million.