Trump’s Meme Coin Gains Attention Amid Gala Dinner speculation
Donald Trump’s meme coin is back in the spotlight. The top 220 holders are waiting to see if they’ll be invited to a gala dinner with the former president. This Solana-based token, launched just before Trump’s January inauguration, initially soared to $75 but has sence dropped to around $12.32.
The coin’s value has sparked both interest and controversy.
According to GetTrumpMemes.com, winners are chosen based on “time-weighted” holdings between April 23 and May 12. The top 220 wallets hold $160 million in time-weighted assets, with HTX, linked to Justin Sun, leading with $18 million. The total market cap of $TRUMP is $2.74 billion, with the Trump family controlling 80% of the remaining supply. Since launch, these entities have earned over $320 million in fees.
Recent rumors suggest truth Social might launch a new meme coin, similar to the official trump coin. Critics, including Senator Chris Murphy, have raised ethical concerns, calling it “the single most corrupt act ever committed by a president,” citing the potential for anonymous foreign donors to buy influence.
Recent data reveals that while large investors have made over $1.5 billion, with $48 million gained since the dinner declaration, around 600,000 wallets have collectively lost $3.87 billion, many buying on secondary markets.
