The TRUMP team cleared the air surrounding the requirements of Donald Trump’s dinner event, which pushed the meme token above $12 briefly in the past 24 hours.
By Parth Dubey
Editor Julia Sakovich
Updated
3 mins read
Official Trump [NC] meme coin’s recent dinner announcement has resulted in several rumors. Later on April 14, the coin’s development team issued a public clarification that participants do not need to hold over $300,000 worth of TRUMP tokens to attend the event.
It also declared that no tokens will be unlocked or sold in conjunction with the dinner, quieting fears of a massive dump during peak hype.
The response and excitement over the competition to have "Dinner with President Trump" is amazing! We want to clarify a few things people seem to be confused by on X and in the Media.
-You need $300K+ to participate (You Don't)
-That we're unlocking into this competition (We're…— TrumpMeme (@GetTrumpMemes) April 24, 2025
The TRUMP team also explained that the leaderboard top 220 includes not just individual investors, but also exchanges, market makers, and wallets holding locked tokens. Therefore, it’s misleading to assume the 220th spot as a cutoff for dinner eligibility.
The data from the public leaderboard reveals that the top wallet, known as “Sun”, holds over 1.17 million TRUMP tokens, translating to more than $14 million in value at current prices. On the other hand, the 220th-ranked user “HAR” holds just $420 worth of TRUMP.
Notably, the “Sun” wallet is registered through HTX, a crypto exchange founded in China whose advisory board includes crypto billionaire and businessperson Justin Sun.
It is interesting to note that several recent buyers received funds from Binance, a platform off-limits to US users. This has sparked speculation that many of the top holders may be based outside the United States.
TRUMP token is currently trading around $12, down by 1% in the past day. However, the meme coin still sits over 60% higher week-on-week. Interestingly, it added $1 billion to its market cap in just hours of the dinner announcement on April 23, now boasting a $2.42 billion valuation.
As per several reports, since its launch, the TRUMP token has generated $312 million in sales and $41 million in fees for Trump and his business partners.
On the 1-hour TRUMP price chart, the RSI hovers near 52, hinting at a lack of strong momentum in either direction. However, the daily chart suggests that the RSI is around the overbought region, which means that late buyers could face losses in the coming days.
TRUMP price chart | Source: TradingView
Meanwhile, Bollinger Bands are tightening on the hourly chart, suggesting a volatility squeeze that often results in a sharp move. The token faces major resistance around $13.50, a level bulls failed to cross during the recent parabolic surge.
MACD lines recently crossed bearishly, with the histogram fading. This suggests weakening short-term momentum. If the token fails to hold the current level, it can find support near $11.20.
TRUMP price chart | Source: TradingView
Volume and open interest are cooling off, which suggests that a decisive move requires fresh catalysts, possibly tied to new event details. Until then, traders could see consolidation and a fight between bulls and bears.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
