According to Wu, Kaiko analysis revealed that after the official Trump memecoin team announced a dinner for the top 220 token holders, the price of the TRUMP token rose by 60%, with on-chain transfer volume surging. Approximately 10,000 wallets transferred tokens on that day, resulting in a total trading volume of $2.3 billion, with small holders dominating the trades. The trading volume of the TRUMP token on that day surpassed all major memecoins on centralized exchanges, capturing nearly 50% market share. Although the trading frenzy subsequently cooled, due to the dinner candidate rules being based on the average holdings from April 23 to May 12, it is expected that on-chain activity will continue to increase in the coming weeks.
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Trump memecoin dinner sparks a trading frenzy for TRUMP Token
According to Wu, Kaiko analysis revealed that after the official Trump memecoin team announced a dinner for the top 220 token holders, the price of the TRUMP token rose by 60%, with on-chain transfer volume surging. Approximately 10,000 wallets transferred tokens on that day, resulting in a total trading volume of $2.3 billion, with small holders dominating the trades. The trading volume of the TRUMP token on that day surpassed all major memecoins on centralized exchanges, capturing nearly 50% market share. Although the trading frenzy subsequently cooled, due to the dinner candidate rules being based on the average holdings from April 23 to May 12, it is expected that on-chain activity will continue to increase in the coming weeks.