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Highlights
- TRUMP meme coin price eyes more gains ahead of Trumps dinner with the top holders of this token.
- One of the attendees to this dinner is Tron founder Justin Sun, who has deepened his ties with the Trump family.
- TRUMP price is already up by over 10% and could easily reach $20 as traders buy the rumor.
US President Donald Trump is again getting much attention from the crypto community due to the upcoming meme coin dinner on May 22. The dinner invitees will be the largest holders of the TRUMP meme coin and include Tron founder Justin Sun.
With only a day left to this event, the TRUMP meme coin price is already gaining with a 9% surge in 24 hours to trade at $14.38 at press time. In this article, we explore what to expect from this token’s performance before and after this event.
Tron Founder to Attend Trump’s Meme Coin Dinner
The number one attendee to this event is the founder of Tron, Justin Sun, who is also the largest holder of the TRUMP meme coin. Sun confirmed his attendance through an X post on May 20, saying that he is going to discuss crypto and the future of the industry.
According to Solscan data, Sun holds 1.5 million TRUMP coins valued at over $21 million. Besides Sun, Kronos Research confirmed that its CIO, Vincent Liu, will also attend the event. The second-largest holder of the meme coin is the MemeCore startup, while Synthetix founder Kain Warwick will also be in attendance.
TRUMP Meme Coin Price Soars Ahead of Washington Dinner
At press time, the Trump meme coin price trades at $14.40 with a 10% gain in 24 hours. Trading volumes had also surged by more than 150% according to data from CoinMarketCap, highlighting high market interest in the meme coin ahead of this event.
TRUMP, like most meme coins, tends to gain in price based on hype. For instance, in late April, shortly after the dinner event was announced, the TRUMP price surged by 55% within hours. History appears to rhyme, considering that the meme token has added more than $300M in market cap this week alone.
As buy-side pressure surges, TRUMP is likely among the altcoins to explode this week and possibly reach $20 for the first time since February. The RSI is rising, but it is not yet at overbought levels, suggesting that the TRUMP token has room for more gains ahead of the dinner.
However, after the event, the TRUMP price prediction will turn bearish as traders quickly book profits. If the uptrend fails, the meme coin will likely test support at $10. This is the most likely outcome next week if there is no other bullish catalyst.
Sun’s Affiliation With the Trump Family
Sun’s attendance at this meme coin dinner will grow his ties with the Trump family. Barely three weeks after the November 5 US Presidential election, Sun made a $30M investment in World Liberty Financial, where he is also an advisor.
Earlier this year, a federal judge granted Sun’s request to stay a securities lawsuit filed against him by the SEC in 2023. While this motion was granted earlier this year, it was brought to light yesterday, May 20, during Paul Atkin’s hearing at the House of Representatives.
Sun’s affiliation with the Trump family also comes as the Tron network dominates other layer ones. Recently, TRON overtook Ethereum by stablecoin transactions and volumes, suggesting high usage and market interest.
Hence, as the dinner draws close, the attention will not only be on how the Trump meme coin price will react, but also on the relationship that Sun has built with the Trump family.
Frequently Asked Questions (FAQs)
1. What should traders expect from the TRUMP meme coin price ahead of Trump’s dinner?
2. Will Justin Sun attend Trump’s meme coin dinner event?
3. What are Justin Sun’s ties with the Trump family?
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