The TRUMP cryptocurrency, the official Solana meme coin representing President Donald Trump, experienced a significant downturn this Thursday. The coin’s value fell by 18% over the last 24 hours, dropping to a current price of $11.81 according to data from CoinGecko. This decline follows a substantial surge in value on Wednesday, when the coin peaked at $14.72, its highest price since early March.
The unexpected boom on Wednesday came after the GetTrumpMemes team, responsible for the TRUMP token, announced an exclusive dinner for the top 220 registered holders. The event is scheduled to take place in Washington D.C. next month, creating an incentive for crypto traders to buy and hold the coin.
To qualify for the event, TRUMP holders must register on the official website, providing personal identification information and connecting a wallet containing the tokens. Despite the price drop, the coin remains 58% up on the week, albeit with a mere 2% increase over the last 30 days.
However, it is worth noting that TRUMP is significantly down from its all-time high. The coin’s value has fallen by 84% from its peak of over $73, a price it achieved in January shortly after its surprise launch before Trump’s inauguration.
As part of the incentive for TRUMP token holders, the top 25 registered will be eligible for an “ultra-exclusive private VIP reception.” The details of this reception remain undisclosed, but the promise of such an event has undoubtedly added to the appeal of owning the meme coin.
The fluctuations in TRUMP’s value and the recent incentives for holders reflect the volatile and unpredictable nature of the cryptocurrency market. Despite the coin’s current downturn, the overall weekly growth suggests a positive trend for TRUMP. However, as with any investment, potential buyers should exercise caution and thoroughly research before purchasing.
While the TRUMP coin’s performance has been mixed, the unique incentives offered by the GetTrumpMemes team demonstrate an interesting approach to boosting interest and investment in a cryptocurrency. With the exclusive dinner and VIP reception on the horizon, it remains to be seen how the TRUMP coin will perform in the coming weeks.
