TL;DR
- The announcement of an exclusive dinner linked to the TRUMP token sent its price soaring over 70% and multiplied trading volume fivefold.
- Whales like “MeCo” and “Sun” withdrew millions of tokens from exchanges to secure their participation in the event.
- The initiative opens the door to a trend where public figures use digital assets to activate markets and trigger massive movements.
The announcement of an exclusive dinner organized by Donald Trump for TRUMP token holders triggered an immediate reaction in the market.
Within hours, the token’s value surged over 70%, reaching $12.40 before stabilizing. The rally was accompanied by a 548% increase in trading volume, fueled by users transferring their tokens from exchanges to private wallets to access the event.
Millions on the Move
Two names concentrated much of the activity: “MeCo” and “Sun.” The “MeCo” account withdrew around 1.195 million tokens from Binance, a transaction valued at approximately $15.76 million, surpassing “Sun,” which moved 1.177 million. In addition, another movement was recorded from an address that withdrew 655,000 tokens at an average price of $12.11, totaling $7.93 million. These maneuvers reflect the interest in securing direct ownership of the assets — a necessary condition for participating in the event.
At the time of writing this article, the TRUMP token had reached a value of $13.53, with an estimated market capitalization of $2.7 billion. Over the past week, its price climbed 75.7%, while in the last 24 hours it gained another 11%, according to CoinMarketCap data.
What Will the Authorities Say About Trump’s Event?
Interest in this type of initiative paves the way for a new channel to connect digital assets with high-profile in-person events. Industry analysts believe this strategy could be replicated in other contexts, combining cryptocurrencies with tangible incentives.
Although it remains unclear how regulatory authorities will respond to these proposals, the episode involving the TRUMP token confirms that celebrity-driven movements can quickly and significantly alter the dynamics of the crypto market.
