Trump meme coin price is under watch as the May 22 dinner with President Trump nears, and Justin Sun is set to attend as a top holder.
The crypto community again pays close attention to US President Donald Trump in anticipation of the impending meme coin dinner on May 22.
Justin Sun, the inventor of Tron, will be among the most prominent holders of the TRUMP meme coin at the dinner.
The TRUMP meme coin price has already experienced a 9% increase in the past 24 hours, reaching $14.38 at press time, with only one day remaining until the event.
This article investigates the anticipated performance of this token both before and after this event.
Founder Of Tron To Attend Trump’s Meme Coin Dinner
Justin Sun, the founder of Tron, is the most prominent attendee at this event.
Additionally, he is the largest proprietor of the TRUMP meme coin.
On May 20, Sun announced his attendance via an X post, stating that he intends to discuss the industry’s future and cryptocurrency.
Sun is the owner of 1.5 million TRUMP coins, which are valued at over $21 million, according to Solscan data.
Kronos Research has verified that its CIO, Vincent Liu, will also attend in addition to Sun.
The MemeCore startup is the second-largest proprietor of the meme coin, and Synthetix founder Kain Warwick will also be present.
Price Of TRUMP Meme Coin Has Increased Significantly In Anticipation Of Washington Dinner
The Trump meme coin price currently trades at $14.40, representing a 10% increase in the past 24 hours.
Trading volumes had also increased by over 150%, as evidenced by data from CoinMarketCap, indicating that the meme coin was of significant market interest in anticipation of this event.
Like most meme currencies, TRUMP experiences an increase in value whenever there is an increase in hype.
For example, the TRUMP price experienced a 55% increase within hours following the announcement of the dinner event in late April.
This week, the meme token has increased its market capitalization by over $300 million, suggesting that history repeats itself.
TRUMP is expected to experience a significant surge in value this week, potentially surpassing $20 for the first time since February due to the increased buy-side pressure.
The RSI is rising but has not yet reached overbought levels.
This indicates that the TRUMP token has potential for further increases in the lead-up to the dinner.
Nevertheless, the TRUMP price prediction will shift to the pessimistic side as traders promptly accumulate profits following the event.
If the uptrend fails, the meme coin will challenge support at $10. Next week, this is the most probable result without any additional bullish catalyst.
Sun’s Relationship With Trump Family
Sun’s participation in this meme coin dinner will strengthen his relationship with the Trump family.
Sun invested $30 million in World Liberty Financial, where he serves as an advisor, just three weeks after the November 5 US Presidential election.
A federal judge granted Sun’s request to suspend a securities lawsuit filed against him by the SEC in 2023 earlier this year.
Although this motion was granted earlier this year, it was disclosed during Paul Atkin’s hearing at the House of Representatives on May 20.
Sun’s association with the Trump family coincides with the Tron network’s dominance over other layers.
TRON recently surpassed Ethereum regarding stable coin transactions and volumes, indicating a high level of market interest and utilization.
Therefore, the Trump meme coin price will not be the only focus as the dinner approaches; Sun’s relationship with the Trump family will also be a focal point.
