⭐Trump Coin surged 50% overnight, with a market capitalization surpassing $2.6 billion, as the dinner news ignited the market.

On April 23, former U.S. President Donald Trump's personal meme coin "Trump Coin" ($TRUMP) experienced a significant surge, with an intraday increase of nearly 50%, reaching a peak price of $16.17 and a market capitalization exceeding $2.6 billion, becoming the focus of the cryptocurrency market. This surge was triggered by the official announcement of a major event: Trump will host a dinner at his private club in Washington on May 22, inviting the top 220 investors by coin holdings to join him for dinner, while the top 25 investors will also receive private receptions and be invited to a pre-dinner reception, as well as a VIP tour of the White House the following day.
Once the news was released, it immediately triggered a strong market reaction, with investors flocking in, pushing the price of Trump Coin to rise sharply. Data shows that as of now, Trump Coin has become the 37th largest cryptocurrency, with a daily trading volume exceeding $270 million, demonstrating strong market enthusiasm.
Trump Coin was launched in January this year and attracted significant attention at its initial issuance, with prices experiencing substantial fluctuations in a short period. The total supply of the coin is set at 1 billion coins, but currently, only 20% is in circulation in the market, while the remaining 80% is held by the entity "Fight Fight Fight" co-owned by Trump's company CIC Digital and CIC, and is in a locked state. This highly concentrated holding structure has raised concerns about conflicts of interest and blurred lines of authority, with critics arguing that Trump is leveraging his political influence to endorse personal cryptocurrency projects, which may lead to abuse of power.
However, given that a large number of tokens are still in a locked state, future unlocks may impact the market. At the same time, the regulatory environment for the cryptocurrency market is complex and volatile, and Trump Coin also faces potential regulatory risks. It is recommended that investors remain cautious, closely monitor market dynamics and unlocking situations, and make prudent investment decisions.
Despite the significant rise of Trump Coin due to the dinner news, the high uncertainty and volatility of the cryptocurrency market remain unchanged. In the future, as the unlocking date approaches and regulatory policies change, it remains to be seen whether Trump Coin can maintain its current upward trend.