The price of $TRUMP, skyrocketed 58% within one hour to $14.70 on Wednesday after the token’s
announced that the top 220 holders will be invited to meet the president at his golf club near Washington, D.C., on May 22. The “intimate private dinner” will include a speech from Trump about the future of crypto. The top 25 holders will be invited to a “VIP reception” and given a White House tour.
The guest list for the “black-tie optional” event will be determined by a
that will keep track of investors’ average $TRUMP holdings between April 23 and May 12. The current top holder owns 400,005 tokens, worth $5.2 million at its current price of $13.01.
“The competition is fierce,” the website says. “Let the President know how many $TRUMP coins YOU own!”
Trump token unlock
Late last week, 40 million additional $TRUMP tokens were set to be released to the memecoin’s creators and CIC Digital, a company affiliated with Trump, in what’s called a
. Unlocks have been known to reduce the value of a token by increasing its available supply, and often lead to major selloffs as token insiders dump their holdings for profit.