TRUMP coin has rallied 73% on gala dinner excitement, but once supply starts unlocking in July, will holders face steeper risks than they realize?
TRUMP coin stages a stunning comeback
The Trump-themed meme coin, Official Trump (TRUMP), has captured the market’s attention after delivering a remarkable rally over the past few days.
Launched on Solana (SOL) in January 2025, the token surged from approximately $7.54 to a high of $15.47 on Apr. 23, before settling near $13.20 on Apr. 25.
TRUMP has gained over 73% in the past week and recorded a 24-hour trading volume of $1.82 billion, making it the top-performing asset among the 100 largest cryptocurrencies by market cap.
The recent rally follows a volatile few months. Ahead of President Trump’s Jan. 20 inauguration, the TRUMP coin soared to an all-time high of $75.35.
Sentiment cooled sharply after the event, and by Apr. 7, the token had fallen to $7.14. Even after its recent rebound, TRUMP still trades nearly 83% below its peak.
The most immediate catalyst behind the latest rally emerged on Apr. 23, when it was announced that the top 220 holders of TRUMP would be invited to a formal dinner with President Donald Trump at the Trump National Golf Club in Washington, D.C.
Following the announcement, technical analyst AMCrypto on X observed a surge in short liquidations and whale-driven buying, which fueled the price rally.
At the same time, the scheduled unlocking of 40 million new TRUMP tokens was postponed by 90 days. The delay helped preserve the circulating supply at 200 million tokens and alleviated concerns about a sudden influx of new supply triggering a selloff.
The broader macro environment has also provided a favorable backdrop. Renewed enthusiasm around Bitcoin (BTC), as it approached the $100,000 mark, has contributed to a wider appetite for high-risk assets, including meme tokens.
As of this writing, BTC is trading above $94,000, having gained more than 11% over the past seven days.
Dinner with Trump becomes crypto’s hottest ticket
The promise of dinner with the 47th President of the U.S. has added a high-voltage intrigue to an already unusual crypto rally.
In its official announcement, the TRUMP token team unveiled what it called “the most exclusive invitation in the world,” offering a formal gala dinner to the top 220 holders of the meme coin.
The event is scheduled for May 22 at Trump National Golf Club in Washington, D.C., and includes an additional perk for the top 25 participants, which includes a private VIP reception and a guided tour of the White House.
According to the official terms, eligibility is determined by a time-weighted average of holdings from Apr. 23 to May 12. This means the top 220 wallet addresses must not only hold a large quantity of tokens but must also maintain those holdings for a sustained period.
Eligibility also requires passing a background check, not being from a jurisdiction flagged under global anti-money laundering protocols, and attending the event alone—no guests allowed.
A clause in the terms makes it clear that while President Trump is expected to attend, his presence is not guaranteed. In such a case, qualifying attendees would instead receive a limited-edition Trump-themed non-fungible token (NFT) as compensation.
The current leaderboard of token holders is being updated in real-time through the project’s official portal. As of Apr. 25, the top spot belongs to a cold wallet labeled “SUN,” reportedly associated with Justin Sun, founder of the TRON (TRX) blockchain.
His holdings exceed 1.17 million tokens, valued at over $14 million. Sun’s involvement is consistent with his previous support for pro-Trump crypto initiatives, including his advisory role at the Trump-backed World Liberty Financial DeFi project.
Second and third positions are held by wallets under the identifiers “CASE” and “MeCo,” respectively. While MeCo holds a larger number of tokens than CASE, it ranks lower due to the project’s use of time-weighted metrics, which give more weight to long-term holdings over recent accumulation.
Blockchain activity suggests that interest in the token soared immediately after the event was announced. Data from analytics firm Nansen shows that the top 100 wallets accumulated approximately 940,000 additional tokens within an hour of the post.
Trump entities profit from trading, not pumps
The sharp rise in TRUMP’s price is supported by a token design that deliberately restricts supply and concentrates control among two Trump-affiliated entities.
The total supply of the token is capped at one billion. Out of this, only 200 million tokens are currently in circulation, while the remaining 800 million tokens are locked and scheduled to unlock gradually over a three-year period.
This structure is intended to avoid the sudden, large sell-offs that often destabilize meme tokens with loosely managed supply models.
According to the project’s official documentation, the initial unlock on Apr. 18 was set to release 40 million tokens, followed by a daily issuance of 205,480 tokens until Jul. 18.
However, shortly after the announcement of the Trump gala dinner, the team deferred further unlocks by 90 days. This move kept the circulating supply at 200 million tokens and helped suppress potential sell pressure, supporting the ongoing price rally.
At current market prices, the fully diluted valuation of the TRUMP coin, calculated across all one billion tokens, stands at approximately $13.35 billion. Since only 20% of the supply is active in the market, the actual market capitalization is much lower at around $2.67 billion.
Ownership of the locked 800 million tokens is concentrated between CIC Digital LLC and Fight Fight Fight LLC. Both entities are linked to the Trump Organization and together control 80% of the total token supply.
Typically, such heavy insider control would raise concerns about future dumping. However, structural and reputational factors serve as deterrents.
The holdings are subject to a multi-year lockup, and any premature selling could provoke backlash from both the TRUMP community and broader crypto investors.
Rather than relying on direct token sales, the affiliated entities generate income through trading activity. At launch, they seeded 100 million tokens, equal to 10% of the total supply, into a liquidity pool on Meteora, a decentralized exchange on Solana where TRUMP is actively traded.
This liquidity pool allows buyers and sellers to transact smoothly without large price slippage and simultaneously generates fees for liquidity providers. Each trade on Meteora incurs a fee, a portion of which flows back to the wallets controlled by CIC Digital and Fight Fight Fight.
This model has proven to be highly profitable. Estimates from Reuters show that as of Jan. 30, trading fees alone had already generated between $86 million and $100 million for Trump-affiliated wallets.
Following the Apr. 23 dinner announcement, trading activity spiked further, bringing in an additional $1.6 million in fees within a single 24-hour window.
The Washington Post has placed the total earnings from TRUMP coin activities at approximately $312 million from token sales and $41 million from trading fees since launch.
Although the exact revenue split between CIC Digital and Fight Fight Fight remains undisclosed, their role as the primary liquidity providers suggests they capture the majority of these profits.
What to expect next?
TRUMP token’s near-term momentum appears closely tied to two factors: the countdown to the May 22 gala event and the ongoing 90-day delay in token unlocks.
As long as the circulating supply remains limited and the gala dinner continues to serve as a coveted status symbol within the community, speculative interest around the token could stay elevated.
Once the event concludes and the unlock window approaches in July, however, market dynamics may shift. The introduction of fresh token supply could create downward pressure on prices, particularly if trading volumes decline after the gala-driven hype fades.
New entrants drawn by the recent rally should recognize that TRUMP token’s current market capitalization reflects a small circulating supply rather than full public distribution. For existing holders, maintaining disciplined risk management will be crucial.
As event-driven catalysts lose influence, fundamental questions about long-term sustainability are expected to resurface, and positioning accordingly could make the difference between protecting gains and facing steep drawdowns.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
