The TRUMP price is in focus following US President Donald Trump’s confirmation of plans to forge ahead with the May Gala dinner. The dinner could significantly impact the meme coin, considering that some TRUMP holders will be in attendance.
In an X post, the US president confirmed that the May Gala dinner will go ahead despite criticisms about this move from him and the promotion of his meme coin. The TRUMP price remained unchanged following the president’s post and is still trading at around $11, with less than a percent gain recorded in the last 24 hours.
However, crypto analyst Emma predicted that the top meme coin could soon rally to as high as $13. Commenting on the price action, the analyst noted that TRUMP bounced from the $10.50 to $11 support zone and is now aiming toward the $12.50 resistance. With momentum shifting and previous highs acting as magnets, Emma stated that a clean break above $12.50 could reignite the next bullish wave.
According to the post, the Gala dinner will hold on May 22 at Trump National, the president’s private club in Washington. The top 220 TRUMP meme coin holders will get an invite to the event. The creators of the meme coin will finalize the guest list of the holders following the contest, which ends on May 12.
As CoinGape reported, Tron Founder Justin Sun will likely be in attendance as he is currently one of the meme coin’s top holders. Data from the meme coin’s official website shows that Sun is currently at the top of the leaderboard with 1.47 million tokens and boasts a weighted holdings of 1.2 million.
It is worth mentioning that the top 25 TRUMP meme coin holders on the leaderboard will enjoy a private VIP reception with Donald Trump. The meme coin’s creators have also organized a special VIP tour. With these pecks, the meme coin is expected to witness significant accumulation by crypto whales in the coming days, which could boost the TRUMP price.
Interestingly, two whales just dumped their holdings. Onchain analytics Lookonchain revealed that these whales offloaded 756,128 TRUMP coins at a loss of $2.34 million on May 4.
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