TRUMP Coin Skyrockets 70% After Ex-President Hosts Exclusive Dinner for Whale Holders

A token named after the 45th president surges on pure vibes—because nothing says ’sound investment’ like a political meme coin rewarding bagholders with steak dinners. The pump comes amid zero fundamental utility, proving once again that crypto markets run on hype, hopium, and the occasional VIP photo op.

The token surged over 70% following the news briefly hitting $16, its strongest price since early March. Later it retraced to below $13, still up 43% over the past 24 hours.

The event, notably, comes after $300 million worth of previously locked-up TRUMP tokens were added to circulation on April 18, according to Tokenomist data. Some 75% of all existing tokens are still locked up, with the next unlock coming up in July increasing the supply by over $600 million of coins.

The TRUMP token, launched only days before Donald Trump’s presidential inauguration on January 20, was met with industry-wide backlash for capitalizing on the attention and Trump’s public office and heavy allocations to insiders.

The launch also marked the peak in speculative froth on crypto markets. Bitcoin (BTC) declined over 30% from record prices in the following weeks, while many smaller, more speculative cryptocurrencies suffered 80%-90% drawdowns.

Despite today’s rally, TRUMP coin still trades more than 80% below its January 19 record price of $73.