- Trump hosts a dinner for top TRUMP token holders.
- Event drives $2 billion into TRUMP token.
- Market volatility expected post-dinner as token utility shifts.
Donald Trump is organizing a private dinner for the top TRUMP token holders at a golf club in Virginia on May 22.
This event underscores Trump’s continued engagement with the crypto sphere, driving speculation and significant capital inflows into the TRUMP token.
TRUMP Token Sees $2 Billion Surge Amid Exclusive Event
Donald Trump plans a private dinner for the top 220 holders of the TRUMP token, slated for May 22 at his Virginia golf club. Significant funds flowed into the token, as it became necessary to secure a top holder spot for an invitation.
TRUMP token witnessed a $2 billion influx as investors jostled for dinner invitations. Analysts noted that the token experienced volatility post-snapshot, with 34 of the top investors quickly offloading their holdings.
Market reactions have been mixed. Jeff Dorman, CIO of Arca, expressed surprise about the token’s resilience, remarking, “I’m actually surprised it’s not going down more. There’s really no reason to own it after May 12, because you’re already getting the value of it if you were buying it specifically for the [dinner].” The White House stated Trump’s efforts comply with conflict of interest laws, emphasizing transparency.
Market Analysts Brace for Post-Dinner Volatility
Did you know? The concept of celebrity-led crypto events has parallels with previous NFT minting occasions, but Trump’s direct involvement as a former U.S. President brings unprecedented attention to the TRUMP token.
As per CoinMarketCap, the OFFICIAL TRUMP token currently trades at $12.89, with a market capitalization of $2.58 billion. Its trading volume showed a 48.54% increase over the last 24 hours. Notably, the token’s value saw a 68.65% rise over the past 30 days despite a 7.38% decline over the past week.
COINCU’s research team highlights the possibility of increased market volatility as investors shift strategies post-dinner. Additional utility announcements during the event could stabilize or enhance the token’s future performance in the market.
Source: https://coincu.com/338267-trump-token-whale-dinner-event/