Trump Token Soars 60% on ’Dinner Effect’ as Onchain Frenzy Hits 200%

Meme coin mania hits new highs as TRUMP—the MAGA-themed cryptocurrency—suddenly pumps 60% following a private donor dinner. Onchain data shows trading volume spiking 200%, because nothing says ’sound investment’ like political theatrics moving digital markets.

Speculators pile in as the token mirrors its namesake’s volatility. Meanwhile, ETH gas fees spike—traders clearly betting heavy on this being more than just another hype cycle. Will it hold? Or will this turn into another ’stablecoin’ that’s anything but?

Pro tip: Maybe don’t mortgage the house. Even in crypto, pump-and-dump politics rarely end well.

“The majority of the volume was driven by smaller token holders,” Kaiko’s report notes, adding, “Wallets holding less than $100,000 worth of TRUMP tokens dominated activity on Wednesday. Larger wallets maintain more consistent activity, with high volumes continuing through Thursday, probably because among them are OTC desks, exchanges, and market maker wallets that need to settle structural operations related to the momentum-driven activity.” 

The Trump Dinner Effect has sparked debate within the crypto community about the ethics and implications of such promotional tactics. 

On the topic, various critics are arguing that offering White House access in exchange for investment raises questions about the intersection of politics and financial markets, while supporters see it as a savvy marketing move in the Wild West of cryptocurrency.

Also read: Bitcoin Could Reach $210K by 2025, Says Presto Research