President Donald Trump’s official meme coin, TRUMP, has experienced a notable price surge of approximately 35% within the last 24 hours. The token is currently trading around $3.75, marking a significant recovery from a recent low of $2.73. This spike in value follows an announcement that the top 297 holders of the token will gain access to an exclusive event featuring the former president, scheduled to take place at his Mar-a-Lago estate in Florida in late April.
The excitement surrounding this event has driven a dramatic increase in trading volume for the TRUMP token. According to CoinGecko, trading volumes surged from around $72 million the day before the announcement to over $292 million on the day itself, representing more than a fourfold increase. Over the past 24 hours, the total trading volume reached around $1.78 billion.
Notably, some traders have benefitted significantly from the recent price movement. An unassuming Solana address that had shown little activity in the past five months recently received a transfer of 2.2 million TRUMP tokens, valued at over $8 million. On-chain analytics firm Arkham Intelligence flagged this address, which has raised questions regarding the origin of these funds. The tokens were sent from a wallet identified as a “Binance Hot Wallet,” leading to speculation that the user may have recently acquired them. This transaction has resulted in a gain of around $2 million within just one day.
In parallel to the TRUMP token’s performance, Melania Trump’s official meme coin, MELANIA, has also seen a modest increase of more than 12% in the same timeframe. However, it has faced a substantial decline over the longer term, currently trading at approximately $0.125, which is 99% lower than its all-time high of $13.05.
The upcoming event for the TRUMP meme coin’s top holders will feature a special luncheon where the former president will serve as the keynote speaker. The top 29 holders are set to receive VIP access, which required maintaining an investment of approximately $4.8 million in TRUMP tokens during a previous exclusive event last May. That dinner drew considerable scrutiny from Democratic lawmakers, with figures such as Senator Elizabeth Warren expressing concerns about potential foreign interference and labeling the event as an “orgy of corruption.”
