
The official Trump token (TRUMP), has pumped by over 10% over the last 24 hours. This impressive rally makes it the top gainer in the crypto market today, according to CoinMarketCap.
TRUMP’s surge comes ahead of a scheduled private dinner on May 22. In the event, U.S president Donald Trump will host the top 220 TRUMP token holders. This has driven massive interest from crypto traders and investors who aim to capitalize on opportunities arising from the high-profile dinner.
Private Dinner Fuels TRUMP Memecoin Price Surge
The TRUMP token has drawn attention as anticipation builds for the exclusive dinner event with the U.S. President. According to reports, the event will take place tomorrow at the Trump National Golf Club in Virginia.
The invitation-only dinner includes the top 220 holders of the TRUMP memecoin. The listing of holders was determined by blockchain wallet activity and holdings verified on the Solana network. Topping the list is Tron’s founder Justin Sun, who confirmed that would be attending the dinner. This further adds to momentum of the token as Sun’s holdings suggest confidence by crypto influencers.
To most market participants, the Trump dinner reflects the merging of politics with decentralized finance. The exposure, networking, and community recognition from the event have the potential to impact the token value. In fact, the momentum seems to be sparking around the TRUMP token over the last 24 hours as the crypto market awaits the dinner.
Technical Data Support TRUMP’s Short-term Momentum
Amidst the recent surge, TRUMP token’s technical data shows that the coin’s recent momentum could continue. Notably, the token is maintaining support above the 20-day Exponential Moving Average (EMA). As per the data by TradingView, the official Trump token is trading at $14.52. The 20-day EMA currently sits at $12.88 level.

The 20-day EMA is often used to measure short-term market trends. With the price staying above this level may, it suggests strong buyer control in the short term. Analysts use this signal to detect sustained upward momentum.
On the other hand, the TRUMP’s Directional Movement Index (DMI) as per TradingView data also shows a bullish trend. The positive directional index (+DI) is rising, while the negative directional index (-DI) continues to drop. The (+D) currently sits at 25.99 while the (-D) sits at 14.90. Usually, the divergence between (+D) and -D confirms that the bulls dominate in the current market.

If prices keep rising, the memecoin may test the resistance area at $19.28. Even so, market volatility is still a major concern for investors. If TRUMP breaks below $12.99, it may lead to a drop towards the next support level at $10.76.
Price Outlook Remains Cautious Despite Recent Rally
Even though TRUMP has seen some recent gains, investors still need to be cautious. Memecoins are highly volatile with sharp price changes. However, price sustainability depends on long-term adoption and utility.
Additionally, the TRUMP token is currently operating as a social and political engagement token with no utility in Decentralized Finance (DeFi) yet. Traders must thus keep a track on changes in volume, RSI and social media sentiment. These metrics are crucial to determine the price trajectory moving forward.
Be on the lookout for TRANXCHK in your recovery journey for any lost online investments or assets. They are among the top providers in the field, known for their prompt and reliable service.
[…] TRUMP memecoin event was expected to reinforce Trump’s stance on digital assets. However, the feedback from […]