TRUMP token rallies as top holders get a second chance to meet the President

Donald Trump-linked meme coin Official Trump posted double-digit gains on Friday after the team announced a second exclusive event where top holders will get the chance to attend a luncheon with the president at Mar-a-Lago.

According to the official announcement, the top 297 Official Trump (TRUMP) holders will get a chance to attend the luncheon with the United States President at his Mar-a-Lago residence in Florida, where he will appear as the keynote speaker.

Eligibility, however, would depend on participants’ time-weighted holdings between Mar. 12 and April 10, and attendees would be required to pass a background check. Among the group, the top 29 holders will be allowed a private reception with Trump.

While the meme coin’s website says Trump will attend the event, a White House official told Politico that the luncheon would be taking place alongside the White House Correspondents’ Dinner.

Right after the announcement, the meme coin rallied over 11% and was up over 8% in the past 24 hours as of last check. The meme coin has remained in a downtrend since its launch in early 2025.

Despite efforts from the team to revive interest through new ecosystem initiatives, investor enthusiasm has remained limited. Last month, the project team outlined plans for yield and liquidity programs through Kamino vaults, new market makers, and a fund to back ecosystem projects, but that did not translate into any meaningful recovery for the meme coin, which remains down over 95% from its all-time high.

This is the second exclusive event hosted by the project following a similar gathering held in May. At the time, Tron founder Justin Sun emerged as the top TRUMP holder among the attendees.

However, the event became a source of controversy, with critics accusing Trump of using his position as president for personal financial gain. Rep. Jamie Raskin, the ranking Democrat on the House Judiciary Committee, launched a probe into the dinner over how the guest list was compiled and whether foreign money may have flowed into the meme coin purchases.