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The TRUMP Memecoin team has clarified some misconceptions about the potential surprises at an upcoming dinner hosted by US President Donald Trump and addressed rumors about the alleged requirements for an invitation to the event.
TRUMP Memecoin Holders To Dine With The President
On Wednesday, the TRUMP Memecoin team announced that the token’s top holders would receive an exclusive invitation to have dinner with President Trump at his Private, Members-Only Club in Washington, D.C, to “hear close-up, from President Trump, about the future of Crypto.”
According to the website, the top 220 TRUMP holders on the website’s leaderboard will get to attend the event, scheduled for May 22, 2025. Meanwhile, the top 25 holders will be invited to an exclusive reception with the US President before the dinner and enjoy a guided tour of the White House.
The memecoin experienced a massive price jump, surging nearly 60% hours after the announcement and hitting a seven-week high of $14.37. Amid the TRUMP token’s explosion, investors began speculating who would get to attend the event, using the Solana blockchain explorer to assess the largest addresses holding the token.
A community member suggested that to be among the top holders, investors must be holding around $300,00 worth of the token, as the 220th-largest holder on the explorer seemingly showed that number.
Nonetheless, the TRUMP memecoin team addressed two misunderstandings, clarifying that they are not “unlocking into this competition” and that users “have been incorrectly quoting #220 on the block explorer as the cutoff.”
The team explained that the Solana explorer includes locked tokens, crypto exchanges, market makers, and people not participating, making the list inaccurate. Instead, investors should check the official leaderboard, which has a time-weighted score that calculates the number based on the amount and duration of an investor’s TRUMP holdings.
A Battle For An Invitation
In the X post, the memecoin’s team also pointed out that the leading holder had 1.17 million TRUMP, worth around $14 million at the time, while the last investor to make the cutoff held only 35.3 tokens, worth around $420. Since then, the 220th spot has changed, with the address holding 2,284 tokens, valued at $32,100 at the time of writing, and a score of 164.251.
Blockchain analytics firm Nansen noted that on April 24, the top 100 TRUMP holders increased their balance by over 940,000 tokens in just one hour, from 975.36 million tokens to 976.30 million total holdings.
Meanwhile, Arkham Intelligence highlighted that the competition to stay among the top holders has intensified. According to the Friday report, one of the leading holders, under the name “boop,” swapped $300,000 worth of FARTCOIN into the TRUMP memecoin “so that he doesn’t fall out of the top 25 attendees for the Trump Dinner.”
Amid the ongoing frenzy, investors have also speculated about the identity of the top holder, with many suggesting that TRON founder, Justin SUN, is behind the wallet. According to Arkham, someone registered an HTX Cold Wallet, an exchange Sun is affiliated with.
The investor using the username “Sun” registered the address with 1.07 million tokens, initially taking the 21st spot with a time-weighted score of 37,072 on Thursday. Since then, it has climbed to the first place after adding 104,000 TRUMP tokens and achieving a score of 715,113.
On-chain data firm Lookonchain reported that it “Looks like Justin Sun (@justinsuntron) has registered for the $TRUMP dinner. He currently holds 1,176,803 $TRUMP ($14.32M), ranking #1 on the leaderboard.”
At the time of writing, TRUMP trades at $13.42, a 10% increase in the daily timeframe.
Featured Image from Unsplash.com, Chart from TradingView.com
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