TRUMP Token Jumps 42.71% in 24 Hours, Likely Boosted by Trump’s Private Dinner Announcement

The TRUMP token surged 42.71% in the past 24 hours to $12.86 on April 23, 2025, with trading volume soaring 215.11% to $3.1 billion, per OKX data. The rally coincides with a New York Times report that President Trump offered a private dinner to the top 220 investors in his memecoin, fueling speculation and investor enthusiasm.

April 23, 2025 – The TRUMP token experienced a remarkable 42.71% surge in the past 24 hours, reaching $12.86 as of 18:06 KST on April 23, 2025, with its trading volume skyrocketing 215.11% to $3.1 billion, according to OKX data reported by Bitpush News. The price spike aligns closely with a New York Times report published on the same day, revealing that President Donald Trump offered a private dinner to the top 220 investors in the TRUMP memecoin, a move that has ignited market frenzy and speculation.

The New York Times article detailed Trump’s latest crypto venture, noting that the offer was part of a broader effort by the Trump family to profit from cryptocurrencies. The announcement, which came on the heels of Trump’s memecoin launch on the eve of his inauguration, caused the TRUMP token’s price to surge more than 60% immediately after the news broke, as investors rushed to accumulate enough tokens to qualify for a dinner seat. The token’s momentum carried into April 23, with OKX data showing a 42.71% gain and a trading volume of $3.1 billion, reflecting sustained investor interest following the announcement.

TRUMP, a Solana-based memecoin launched by Donald Trump, has been highly volatile since its inception. Prior CoinGecko data (web:1) recorded a 119.00% increase in 24-hour trading volume to $889.54 million earlier in April, with a 19.30% gain over the past seven days, outperforming the global crypto market’s 10.20% growth. The token’s recent rally, however, appears directly tied to Trump’s dinner offer, which has been perceived as a signal of access to political influence.

Trump’s growing involvement in crypto, including his administration’s push for crypto-friendly policies, has further fueled interest in the TRUMP token. The New York Times noted that Trump, once a crypto skeptic, has embraced digital currencies, appointing regulators who are scaling back enforcement and advocating for legislation to boost the industry. This political backing, combined with the dinner offer, has positioned TRUMP as a focal point for speculative traders, though its volatility remains a significant risk.

As the TRUMP token rides the wave of Trump’s latest crypto endeavor, its dramatic price movements highlight the power of political influence in driving memecoin markets. Investors are advised to proceed with caution, given the token’s speculative nature and the potential for sharp corrections following such hype-driven rallies.