The TRUMP memecoin, unofficially linked to former U.S. President Donald Trump, has plunged 23.72% in the past week, now trading at $10.48 despite renewed buzz around an upcoming gala dinner for top token holders scheduled for May 22.
TRUMP’s Decline In Spite of Coming Gala
Originally launched in January, the TRUMP token was designed as a digital symbol for supporters of the former president. It had shown signs of strength with a 17.95% rise over the past month, but recent losses have erased much of those gains. Over the past 24 hours alone, the token dropped another 4.39%.
Still, the memecoin continues to attract strong market interest. Trading volume jumped nearly 70% in the last 24 hours to $844.5 million, and the total market capitalization now stands at $2.09 billion, according to CoinGecko.
The upcoming gala event—which promises exclusive in-person access to Donald Trump for top token holders—has stirred debate over the blending of political branding with cryptocurrency incentives. Critics argue the event may cross ethical lines by offering proximity to a political figure in exchange for financial investment in a token.
Senator Cynthia Lummis, a known crypto advocate, voiced her unease about the development. “A president offering exclusive access tied to a token gives me pause,” she said, urging greater regulatory clarity for politically affiliated digital assets.
While the gala appears to be an attempt to energize the community and reinforce loyalty among holders, the market downturn indicates growing uncertainty. The coming weeks will reveal whether the May 22 event revitalizes the TRUMP token or intensifies regulatory scrutiny and investor doubt.
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