The Official Trump token is facing new volatility as Donald Trump doubles down on crypto, recently hosting a private dinner for the token’s biggest investors.
The token is trading at $14.47 as of press time, down 1.9% over the last 24 hours, though it’s still up 53% in the past month. Despite the recent momentum, it’s currently 80% below its January high of $73.43.
On May 22, Reuters reported that Trump welcomed major TRUMP token holders to a black-tie event at his golf club in Sterling, Virginia. 220 investors attended the exclusive dinner. These attendees were the top holders of the TRUMP memecoin, as determined by a leaderboard based on their holdings from April 23 to May 12, 2025.
In total, attendees contributed $148 million to the memecoin to secure their seats. The top 25 wallets alone spent about $111 million combined. Outside the venue, over 100 protesters lined the streets with signs reading “America is not for sale” and “Stop crypto corruption.”
Inside, guests attended a VIP reception. The top four investors received custom Trump Tourbillon watches, said to be worth $100,000 each. The biggest spender was billionaire Justin Sun, whose wallet held $18.5 million in TRUMP.
Sun, now an adviser to Trump-linked World Liberty Financial, which has raised about $500 million, shared videos of his ballroom entrance and a prior visit to the White House Executive Office Building. The Securities and Exchange Commission, which paused its fraud case against Sun in February, is yet to comment.
In a speech filmed by one of the guests, Trump promised to bring crypto innovation back to the U.S. and accused the Biden administration of targeting the industry. Reports say more than half the 220 guests were based overseas, raising concerns from Democrats about foreign influence and prompting calls for the full guest list.
Following the event, market activity has spiked. Daily volume jumped 24.5% to $2.63 billion, while derivatives volume rose 17.3% to $3.9 billion, according to Coinglass data. Open interest rose to $760.6 million, indicating an increase in leveraged positions on the token.
On the technical side, TRUMP is still above important moving averages for periods ranging from 10 to 100 days, depicting a generally bullish structure. A bullish MACD crossover suggests ongoing buying interest, while the relative strength index at 58.66 indicates neutral momentum with upside potential.
But momentum indicators are still mixed, suggesting caution among traders. Resistance lies between $15.10 and $15.50. A breakout above that zone could fuel a rally toward $17.30, while failure to hold above $13.20 and $12.60 may trigger a drop back to $11.30 support.
TRUMP’s next big move will probably depend on whether the post-dinner hype turns into a sustained breakout or crumbles under the pressure of political scrutiny and profit-taking.
