President Trump's official Solana meme coin, TRUMP, skyrocketed in value Wednesday after the project offered an exclusive dinner as a reward for top token holders.

TRUMP is up nearly 66% on the day, according to data from CoinGecko, rising from $9.30 to the current mark of $14.72 in less than an hour. It's the highest price seen for Trump's meme coin since early March.

News of the announcement created a stir among crypto traders, pushing the token’s trading volume to more than $295 million in the last 24 hours according to data from DEX Screener—$177 million more than the next highest-traded token in that time.

Rankings on the leaderboard are based on a time-weighted score that is calculated using a user’s TRUMP token holdings and the duration held from April 23 to May 12. Registration requires a user to provide their full legal name, an email address, and phone number, plus access to their Solana wallet which holds the tokens.Ranking inside the official top 220 on-chain holders would currently require a wallet to contain at least $362,000 worth of TRUMP. However, because of the potentially overlooked registration requirements, users holding just 1 TRUMP token fall in the top 80 accounts on the most recently updated leaderboard.

A separate “ultra-exclusive private VIP Reception” is also available to the top 25 holders on the leaderboard, but similarly, only around 300 TRUMP tokens are currently required to be listed based on the leaderboard, which updates every hour. Such rankings are likely to change as more and more holders register for the opportunity.The TRUMP token was in the news last week as wallets connected to the creators of the token withdrew $4.6 million to Coinbase ahead of planned token unlocks. Ultimately, 80% of the TRUMP token is set aside for the project’s owners and creators.

Analysts previously told Decrypt that the unlocks could depress the price even further, though the token’s price ultimately climbed late last week—and now news of the dinner has sent the price of TRUMP much further upwards. Plus, those unlocks may be on pause.“The tokens from the initial cliff and from the following three months of daily unlocks will remain locked, each for an additional 90 days,” the official GetTrumpMemes account on X (formerly Twitter) posted.

The TRUMP token ballooned to a price of more than $73 in its first few days after Trump announced the official launch in January, three days before his inauguration. Even with the day’s 50% surge, the token remains more than 80% off its all-time high.

Highlights: 🍽️ Trump offers dinner to top 220 $TRUMP holders 🎟️ Top 25 get VIP reception + White House tour 📈 $TRUMP surges 60%, hits $14.70 🪙 80% of tokens held by Trump-linked entities ⏳ 90-day pause on new token unlocks

High Tech India