The initiative for an exclusive dinner for TRUMP token holders has sparked a significant rise in on-chain activity and attracted attention from both supporters and critics.
Plans for the Exclusive Dinner
On April 23, the TRUMP token team announced plans for a dinner for the top 220 holders. The top 25 will also have a meet-and-greet opportunity with President Donald Trump. According to Kaiko, this announcement triggered a 200% increase in activity, with on-chain transfers totaling $2.4 billion. On the same day, the price of the TRUMP token surged from $9 to $14.50.
Controversy and Critics' Reactions
Some critics, including Trump’s political opponents, have voiced concerns that this move may be viewed as rewarding those who buy the meme coin. Senator Jon Ossoff has called for Trump's impeachment, deeming the plan unethical. Additionally, there were suspicions regarding some token movements linked to a user named ‘Sun’, who allegedly registered for the upcoming event.
Prospects and Future Activity of the Token
Although trading volumes for the TRUMP token have decreased after the initial spike, Kaiko anticipates a resurgence in activity. The rules for the dinner require holders to maintain their tokens from April 23 to May 12, and an increase in transactions is expected as the deadline approaches.
The dinner initiative for TRUMP token holders has drawn mixed reactions and sparked lively discussions both in support of and against it. As token activity increases, critics highlight the ethical implications of this campaign.
