In short
- President Donald Trump’s official Solana-based meme coin is up 35% in the past 24 hours.
- At least one wallet has risen more than $2 million in that time, with trading volume skyrocketing.
- The top 297 registered holders will gain access to the event at the end of April.
President Trump’s official Solana-based meme coin—TRUMP– has risen in price by around 35% in the last 24 hours following the announcement that top holders will gain access to a new exclusive event with the president.
The token is now changing hands around $3.75, a 40% jump from the recent low of $2.73 that CoinGecko recorded on Thursday.
News of the exclusive event, which will take place at the president’s Mar-a-Lago estate in Florida, has also contributed to significant volume increases for the token in the past 24 hours.
The volumes recorded by CoinGecko indicate an increase of more than 4x from Wednesday to Thursday, with trading figures on the day of the announcement exceeding $292 million, compared to just $72 million in transactions the day before.
However, on a rolling basis over the past 24 hours, CoinGecko recently showed trading volume worth $1.78 billion. And due to the significant price spike, some traders have made big profits in the past 24 hours.
A Solana address with no significant on-chain activity in the past five months was flagged by an on-chain analytics company Arkham Intelligence after receiving 2.2 million TRUMP tokens, worth about $8 million today.
It is not immediately clear whether the tokens were recently purchased by the user, whose funds were transferred from a wallet labeled ‘Binance Hot Wallet’. Regardless, the tokens have gained around $2 million in value during the last day of trading.
The Solana address, ending in ‘DLN2A’, also had significant transaction volumes with First Lady Melania Trump’s official meme coin (MELANIA), according to Solana data. block explorer Solscan.
The president’s wife meme coin is up more than 12% in the last 24 hours, but has done even worse than TRUMP in the long run. It recently changed hands around $0.125, down 99% from the all-time high of $13.05.
Trump’s next meme coin event will welcome the top 297 registered holders of his TRUMP meme coin for a special luncheon, where the president will be a keynote speaker. The top 29 holders also earn special VIP access, a feat that required a value of approximately $4.8 million of TRUMP tokens when the Trump Meme Team held its first exclusive event last May.
That dinner drew intense attention from Democratic lawmakers about the potential for foreign actors to buy access to the US president, with Senator Elizabeth Warren called it an “orgy of corruption.”
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