The cryptocurrency of the same on Trump’s theme, nicknamed the “official token” of American president Donald Trump, overcome more than 70% on Wednesday after the project announced an exclusive dinner with Trump for his 220 best tokens holders.
The event, promoted on the project website as “the most exclusive invitation in the world”, sparked a purchase frenzy that has pushed the price of the token at almost $ 16 – its highest level since early March. The price was then fell to less than $ 12, still representing a 40% gain in the last 24 hours.
The rally comes only a few days after $ 300 million in previously locked Trump tokens were released in circulation on April 18. Despite the big unlocking, around 75% of the total token supply remains locked, with 600 million additional tokens planned to be published in July, according to a blockchain analysis platform.
The Trump token was initially launched a few days before the inauguration of Trump on January 20 and faced important reactions from the initiates of the industry who argue that he exploits the name of Trump, political influence and public profile. The token also aroused criticism for its strong initiate allowances and its clear lack of usefulness.
Despite Wednesday’s rally, the Trump token is still negotiated at more than 80% less than its $ 73 summit reached on January 19.
Trump Memecoin is part of a broader trend involving the president’s commitment with the blockchain -based assets. Over the past two years, Trump has launched four NFT collections and has been increasingly associated with fundraising and cryptive marketing strategies. These developments suggest long -term interest in taking advantage of web 3 platforms for political, financial or brand purposes.
