The Official Trump Coin jumped this week after the official X handle announced that the biggest holders will have an exclusive dinner with the US president at his National Golf Club. Participants will also have a tour of the White House, a rare opportunity. The event will take place on May 22.
The Trump Coin price surged to a high of $15.96, its highest level since March 3, and 120% above its lowest level this year. It has also boosted Trump’s value since his entities control 80% of the value. This is substantial because the coin has a market value of over $5 billion.
Odds are that the TRUMP price will continue rising towards the dinner date as investors fight for allocation. Most of these purchases will come from the extremely wealthy investors seeking an audience with the US president.
Official data on its website shows that the biggest holder of the Trump coin is Justin Sun, who has over 477,484 coins currently valued at over $14 million. The time-weighted value of his TRUMP holdings, consisting of 477,484 tokens, is over $5.7 million.
At press time, the estimate is that one will need about 32,000 TRUMP coins in their holdings to qualify for the dinner. These tokens are now valued at about $400,000, making it a relatively exclusive event.
Read more: Trump’s Exclusive Dinner Announcement Causes TRUMP Token to Skyrocket by 70%
TRUMP Coin Faces Major Risks Ahead
The main risk for the TRUMP meme coin is that it could see higher selling volume during the event. That will happen as many people who bought it for a chance to hang out with the president sell their coins, hopefully for a profit.
The coin also has other risks, including the fact that Trump holds most of it. As we saw with Mantra recently, high concentration can lead to a collapse, especially when the holders decide to sell their tokens. Mantra, once a highly popular coin, crashed by over 90% within hours.
Furthermore, the coin will have a lot of future dilution as over 800 million tokens are set to come online in the next few years.
The other risk is that there is an upcoming mid-term election in 2025 that could see Republicans lose the House and the Senate, thus eroding Trump’s power. After that, he will be out of the White House in less than four years. The Trump coin will likely lose value when he is out of office.
The other risk is that the dinner may be canceled due to corruption concerns from Democrats and some Republicans.
