Following President Donald Trump's VIP dinner announcement for top holders of Official Trump (TRUMP), the meme coin underwent incredible on-chain transfers of $2.4 billion. Before enthusiasm cooled, TRUMP momentarily overtook DOGE in trade volume across controlled exchanges, as per Kaiko.
On Apr. 23, the TRUMP team announced an exclusive dinner limited to the top 220 TRUMP token holders and a meet-and-greet opportunity for the top 25 with President Trump.
The announcement caused a sudden and significant increase in on-chain activity that saw almost 10,000 wallets transact TRUMP tokens on Apr. 23 – a spike of 200% in daily activity compared to the previous day, as per the report.
Crucially, the proportion of very small transfers, below $1,000, accounted for a large proportion (47.2%) of all active wallets since the announcement, a stark departure from the norm.
Additionally, Apr. 23 saw its highest-ever daily centralized exchange volume for the TRUMP token, even surpassing DOGE and accounting for 50% of the meme coin volume that day.
With transactions under $1,000 representing almost half of all transfers, wallets exchanging less than $10,000 worth of TRUMP rose from 46% to 75% of active wallets. The activity surge shows increasing involvement by retail-sized holdings.
Volumes have cooled somewhat, but there should be more traffic ahead of the May 12 deadline for users to qualify for the evening steak dinner. Trump’s meme coin is now fueling some serious on-chain and exchange-based price momentum.
At press time, TRUMP is changing hands at $14.73, down by 1.79% in a day.