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President Donald Trump’s official Solana-based meme coin—TRUMP—jumped more than 10% in an hour Thursday before retracing, following news that top token holders can earn an invite to an exclusive event featuring the president at his Mar-a-Lago estate in Florida on April 25.
Recently changing hands at $2.92, the token is up around 0.1% in the last 24 hours and sits nearly 96% off its all-time high. TRUMP hit a daily peak of $3.08 on Thursday afternoon, touching its highest price in five days, but the spike didn't last long.
The event, the second of its kind for TRUMP holders, will invite the top 297 registered token holders based on a time-weighted points system during the period of March 12 to April 10.
The “once-in-a-lifetime experience” is said to welcome 18 “of the world’s most influential superstars,” the Trump Memes website says, in addition to hosting a luncheon gala that will have a keynote speech from President Trump. None of the guest speakers have been named, as of this writing.
“One day. One room. The world's power players,” the website reads.
In addition to the luncheon, the top 29 registered token holders will gain access to a special VIP reception that features the president and the 18 guests, though no private meetings or gifts will be allowed. VIPs for the first dinner held around $4.8 million worth of tokens on average to earn their place. But the value of TRUMP has fallen sharply since the run-up to the last event.
Much like the TRUMP team’s first event, holders will need to pass background and security checks prior to earning entry to the festivities. Eligibility details on the website also indicate that no “individuals from KYC watchlist countries” or “foreign government officials” are allowed to attend the event.
Eligibility for the event will be based on a public leaderboard that grants points every hour in which TRUMP tokens are held. Winners can connect their Solana wallets or Robinhood accounts to prove ownership of the TRUMP meme coin.
The first event, held at Trump National Golf Club in Virginia, drew loud criticism from some industry observers, including members of congress—with Democratic Senator Elizabeth Warren calling the Gala Dinner an “orgy of corruption” after calling for an ethics probe over concerns of foreign influence.
More than 100 demonstrators also gathered outside the venue on the night of the event, denouncing the event as “political influence for sale.”
TRUMP’s price jump Thursday follows a recent decline in the price of the token as the president’s approval ratings fall amid the ongoing conflict in Iran. Earlier Thursday, the token fell to a price of $2.73—the lowest measured by price aggregator CoinGecko since it started tracking TRUMP soon after its January 2025 launch.
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