US President’s planned dinner for TRUMP memecoin holders triggers 52% price surge — Will it last?
Official Trump (TRUMP) surged 52% on April 23 following an exclusive dinner announcement with US President Donald Trump for top tokenholders. Bitcoin (BTC) also rebounded above $93,000, leading some to believe the bear market may be ending, while skepticism remains about the sustainability of TRUMP's rally. TRUMP's performance has been lackluster since its launch, with a market cap of $2.6 billion, largely due to 80% of tokens being allocated to founders. Comparatively, established projects like Arbitrum and Maker have lower capitalizations but offer utility through buybacks and staking. TRUMP ranks in the top 10 for trading activity, with significant futures open interest of $700 million. Despite trading 84% below its all-time high, TRUMP maintains a high 24-hour turnover of $3.84 billion. Concerns about token unlocks and lack of utility challenge its current price of $13.50, although some argue its association with the President could justify higher valuations.
