The cryptocurrency market is experiencing a frenzy of activity due to the forthcoming special dinner evening organized by President Donald Trump for major holders of his $TRUMP meme coin. Not only has this event driven the price of $TRUMP higher, but it has also generated interest in other cryptocurrencies in line for potential rallies.
$TRUMP Coin’s Meteoric Rise and Investor Behavior
Since its introduction in January 2025, the $TRUMP coin has been highly volatile. The news of a private dinner for the top 220 holders on May 22 brought about a 70% hike in the price of the coin, up to about $16 before settling at $13. Buyers collectively paid more than $140 million for tickets to this exclusive dinner.
Nonetheless, after the May 12 qualification deadline, a significant number of these investors started selling off their holdings. 34 of the top 220 holders reportedly sold their $TRUMP tokens, indicating a strategic exit to take advantage of the coin’s increased value after the announcement.
Rising Cryptocurrencies in Focus
The buzz around $TRUMP has had a ripple effect, putting other cryptocurrencies in the limelight:
- BTC Bull Token ($BTCBULL): This token offers a unique proposition by allowing holders to earn Bitcoin through airdrops. Its presale has already attracted over $6 million in funding, indicating strong investor interest.
- MIND of Pepe ($MIND): An AI-driven meme coin, $MIND is gaining traction for its innovative approach, blending artificial intelligence with the meme coin concept.
- Aave ($AAVE): A stalwart in the DeFi sector, Aave’s market capitalization increased by 65% to more than $791 million as investor sentiment improved.
Ethical Issues and Regulatory Attention
The intersection of political power and cryptocurrency has brought moral concerns. The GENIUS Act, a bill to regulate stablecoins, has been condemned by Senator Elizabeth Warren, who claims that it would enrich President Trump’s crypto business, such as the $TRUMP coin and the USD1 stablecoin.
Furthermore, the foreign party’s intervention, including that of the Chinese-affiliated GD Culture Group injecting $300 million into $TRUMP, increased the threat of foreign influence and the call for tighter regulatory enforcement.
The $TRUMP meme cryptocurrency has certainly left its mark on the crypto world, fueling market hype and regulatory controversy. As the May 22 dinner draws near, investors and regulators will be watching the performance of $TRUMP and related cryptocurrencies closely.
Also read: Trump Memecoin Surges Ahead of Gala Dinner Amid Investor Activity
