Donald Trump’s meme coin is once again making headlines as the top 220 holders await news on whether they’ve secured an invitation to dine with the former president.
Launched just days before Trump’s January inauguration, the Solana-based token initially surged to $75 before falling to around $12.32.
But the promise of exclusive perks, including a gala dinner and private VIP reception on May 22 at Trump’s country club, has renewed attention — and controversy.
According to the Trump-affiliated website GetTrumpMemes.com, winners are selected based on “time-weighted” holdings between April 23 and May 12.
The top 220 wallets represent $160 million in time-weighted holdings, with Seychelles-based exchange HTX, linked to advisor Justin Sun, topping the leaderboard with $18 million.
The total market cap of $TRUMP (TRUMP) sits at $2.74 billion, with entities tied to the Trump family controlling 80% of the remaining supply. Since launch, these entities have earned over $320 million in fees.
Another Trump coin?
Rumors circulated on May 12 that Truth Social, owned by Trump Media & Technology Group, was launching a new meme coin, similar to the official Trump coin.
The launch would follow the introduction of TRUMP and MELANIA meme coins in January, both of which saw significant price drops after initial surges.
While the Trump Organization claims the former president’s assets are in a trust managed by his children, critics say the project poses ethical concerns. Senator Chris Murphy called the coin “the single most corrupt act ever committed by a president,” citing the potential for anonymous foreign donors to buy influence.
Recent data shows that while large investors have profited over $1.5 billion — $48 million since the dinner announcement, around 600,000 wallets have collectively lost $3.87 billion, many buying on secondary markets.
