The Official Trump (TRUMP) meme coin rallied by more than 60% after news of an exclusive crypto and business conference at Mar-a-Lago, where President Donald Trump is scheduled to deliver a keynote address.
CoinMarketCap data shows that the Solana-based token climbed from about $0.27 to nearly $0.45 as traders rushed to accumulate ahead of the April 25 gala luncheon.
Large investors are accumulating the TRUMP token, according to data tracked by Lookonchain. As noted, three newly created wallets withdrew a combined 2.5 million TRUMP, valued at about $8.8 million, from Binance within the past 24 hours.
One of the traders who withdrew 2 million TRUMP, worth around $6.9 million, previously lost over $15 million on MELANIA, the official meme token launched by First Lady Melania Trump.
TRUMP was trading at $4.2 at press time, up 50% on the past day. Trading volume exploded roughly 1,000% to exceed $1 billion, placing TRUMP at the top of the 24-hour gainers’ ranking ahead of RENDER, RIVER, DEXE, TAO, and NIGHT.
The event, billed as a limited-access gathering for crypto and business leaders, will host only 297 attendees alongside 18 additional high-profile guests. Qualification for entry hinges on a leaderboard system tied to TRUMP token holdings.
Holders ranked among the top 29 on the leaderboard will receive VIP perks that include a private reception with Trump, a talk on Mar-a-Lago’s history, and priority seating during the main program.
The announcement comes after the TRUMP Gala Dinner last May, where President Trump hosted a high-profile black-tie event at Trump National Golf Club for leading holders of the TRUMP token.
News of the Gala Dinner sent the TRUMP token soaring over 70% at the time.
Source: https://cryptobriefing.com/trump-meme-coin-soars-mar-a-lago-event/
