The Trump-themed meme cryptocurrency, dubbed the “official token” of the U.S. President Donald Trump, surged over 70% on Wednesday after the project announced an exclusive dinner
A Trump-themed meme cryptocurrency, billed as the "official token" of U.S. President Donald Trump, soared more than 70% on Wednesday after the project announced an exclusive dinner with Trump for its top 220 token holders.
The event, promoted on the project’s website as "the most exclusive invitation in the world," sparked a buying frenzy that pushed the token to nearly $16—its highest level since early March. It later pulled back to below $12, still indicating a 40% gain over a 24-hour period.
The rally comes just days after $300 million worth of previously locked Trump tokens were released into circulation on April 18. Despite the large unlock, around 75% of the token’s total supply remains locked, with another 600 million tokens scheduled for release in July, according to a blockchain analytics platform.
The Trump token was originally launched just days before Trump’s January 20th inauguration, and has faced significant backlash from industry insiders who argue it exploits Trump’s name, political influence, and public profile. The token also drew criticism for its heavy insider allocations and lack of clear utility.
Despite Wednesday's rally, the Trump token is still trading over 80% below its all-time high of $73 reached on January 19.
The Trump memecoin is part of a broader trend involving the president’s engagement with blockchain-based assets. Over the past two years, Trump has launched four NFT collections and is increasingly associated with crypto-native fundraising and marketing. These developments suggest a potential long-term interest in leveraging Web3 platforms for political, financial, or branding purposes.
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