The Real Winners of the Trump Memecoin Feeding Frenzy
On Wednesday, the team behind the official Donald Trump memecoin sparked a trading frenzy after announcing that the investors who held the largest amount of the crypto coin in the coming weeks would be invited to a gala dinner attended by the US president.
“At this intimate private dinner, hear first-hand president Trump talk about the future of crypto [sic],” reads the listing on the TRUMP coin website. “The most exclusive invitation in the world. Only for the top 220 $TRUMP meme coin holders.” The dinner is set to take place on May 22.
Traders rushed to buy up the TRUMP coin, some trying to bump themselves onto the invite list and others simply hoping to profit, according to analysis by blockchain analytics firm Nansen. Within…
