Donald Trump’s cryptocurrency venture has experienced a remarkable price surge following an announcement that the president will host exclusive events for its largest investors. According to oinbase">Coinbase data, the $Trump meme coin jumped over 70% after revealing plans for a gala dinner on May 22 at Trump National Golf Club in Washington DC for the token’s 220 biggest holders. The announcement also promised an “ultra-exclusive private VIP reception” specifically for the top 25 investors, described on the official website as the “most EXCLUSIVE INVITATION in the world.”
Despite this significant rally, the token remains substantially below its January launch peak of approximately $74. Currently valued at around $2.5 billion in total market capitalization, the meme coin represents one component of a broader cryptocurrency strategy from Trump-affiliated businesses. The token, which debuted just days before Trump’s January 20th inauguration, received mixed reactions from the cryptocurrency community, with some industry experts dismissing it as merely “a stunt” rather than a substantive project.
The announcement aligns with Trump’s expanding crypto initiatives since returning to office, including the establishment of a presidential working group tasked with developing new cryptocurrency regulations and the creation of a Strategic itcoin">Bitcoin Reserve and Digital Asset Stockpile. This approach reflects his self-proclaimed identity as the “crypto president” and follows other blockchain-based ventures from his administration, including First Lady Melania Trump’s cryptocurrency launch and his media company’s recent announcement of plans to introduce exchange-traded funds (ETFs) focused on digital assets and American-made investments.
