Trump Memecoin Surges 9.59% Amid Clarifications on Dinner Contest

Official Trump's latest price was $13.38, up 9.589% in the last 24 hours. The recent developments surrounding the "Official Trump" memecoin have been marked by significant clarifications and updates from the token's team. The memecoin, which was launched in January before Trump took office, has faced criticism from US lawmakers and leaders in the crypto industry for potential conflicts of interest. The identities of many top holders remain unknown, but blockchain data has shown significant outflows over the past week, coinciding with Trump's announcement of a dinner and White House tour for certain tokenholders.

The team behind the TRUMP token clarified that holders do not need to spend $300,000 to qualify for the "Dinner with President Trump" contest, addressing confusion over a leaderboard entry that some community members misinterpreted as a spending threshold. The team emphasized that eligibility is determined solely by registered users on the official leaderboard, which ranks time-weighted $TRUMP balances over the course of the competition. The team also noted that tokens from the cliff unlock and daily distributions will remain locked for an additional 90 days, extending past the competition period. The leaderboard is available at trumpdinner.gettrumpmemes.com, and the team noted future updates would include additional contest features. "The field is wide open and it’s anyone’s opportunity to have Dinner with President Trump," the post said. The top tokenholder had 1,176,803 TRUMP memecoins, with speculation that Tron founder Justin Sun, a Trump supporter and investor in the Trump family-backed crypto firm World Liberty Financial, could be among the dinner attendees. Other tokenholders included usernames like "elon" and "doge," though it was unclear if Tesla CEO Elon Musk, also a Dogecoin advocate, was involved in the project.

Trump Media and Technology Group is moving deeper into financial services with plans to launch a digital asset ETF suite. The company has partnered with Crypto.com and Yorkville America Digital to roll out a set of exchange-traded funds under the Truth.Fi brand. The funds will combine exposure to cryptocurrencies with equities tied to U.S.-focused sectors like energy. Trump Media said it plans to allocate up to $250 million in company capital toward the initiative. That includes a parallel offering of separately managed accounts, anchored by a theme of digital investment aligned with domestic economic priorities. The use of crypto tokens for campaign-style engagement hints at a broader shift in how digital assets are being deployed—not as payments, but as tools for identity and access. As projects blur the line between finance, fandom, and politics, the role of tokens is evolving.

Before the 2024 election, Trump arranged a similar dinner at his Mar-a-Lago property in Florida with supporters who purchased non-fungible tokens depicting his mugshot during his arrest for allegedly attempting to subvert the results of the 2020 election. It’s unclear whether any of the same people who attended the May 2024 event are among the top TRUMP memecoin holders. The team behind the Trump memecoin said that the top 220 holders on its list, where the smallest wallet holds $420 worth of TRUMP, are eligible to win dinner with President Donald Trump, contrary to rumors that a six-figure token stash was required. The team clarified that users must register via the official leaderboard and that only time-weighted holdings during the competition will count. Currently, the leaderboard's top wallet, under the pseudonym "Sun," holds over 1.1 million TRUMP tokens. The 220th spot was held by "HAR," with just 35.3 TRUMP tokens, or about $420 in dollar terms. Twenty-five wallets are listed as VIPs on the leaderboard, where the cut-off holder sits on over $400,000 worth of TRUMP. The team also addressed concerns about token unlocks affecting the leaderboard, stating that both the cliff unlock and subsequent daily unlocks would remain inaccessible for 90 days, outlasting the competition itself.