The official TRUMP token price is in the spotlight after a dramatic increase stunned the crypto market. According to data from CoinMarketCap, the token rose nearly 70%, reaching $14.56, following news that seriously boosted attention and by extension, its value.
Why is TRUMP Token Price Soaring?
According to a CryptoKaleo post on X, the price rally was marked by the jump in the market value of the TRUMP token from $9.16 to $11.47 in hours. Interestingly, the momentum did not slow, as the meme token continued its upward move and eventually reached the $14.56 price point, securing a 70.99% gain.
$TRUMP going vertical on news The President will host a dinner with the top 220 holders of his meme coin. pic.twitter.com/EapN73C2NZ
— K A L E O (@CryptoKaleo) April 23, 2025
CryptoKaleo mentioned in the X post that US President Donald Trump has revealed plans to hold a private dinner for the top 220 TRUMP holders. The memecoin started gaining attention following the announcement, especially among those seeking influence and access.
Earlier this month, the token jumped by 7%, setting the stage for a more positive rally. At the moment, market sentiment suggests the promise of direct contact with the President added exclusivity and rewards that most meme coins lack.
However, not all reactions were positive. Some users on X voiced concerns. A user named FTPager pointed out that the surge came shortly after a $400 million token unlock, hinting at possible market manipulation.
Another user described the situation as a pump-and-dump play meant to lure in retail investors. Still, the excitement around the possible dinner had already pushed the token into the spotlight.
TRUMP Leads Memecoin Rally
While the TRUMP token price took the lead, other memecoins also saw green candles. According to CoinMarketCap data, Dogecoin (DOGE) rose by 4.24%, reaching $0.1785.
Shiba Inu (SHIB) climbed 3.48% to $0.00001348. PEPE gained 4.99%, hitting $0.000008820. The rally might see PEPE price breakout if it manages to breach the $0.00001 resistance level.
Still, these increases were minor compared to the TRUMP token price and the recorded daily gain. If anything, the numbers showed how much stronger the President’s associated token is driven by news and social media activity.
Memecoin ETF Now a Catalyst to Watch
It is important to note that there is a growing conversation around several memecoin ETFs. Earlier this month, asset management firm 21Shares filed for a spot Dogecoin ETF with the U.S. SEC.
In addition, leveraged ETF products were filed for SHIB, BONK, and TRUMP earlier this year. If these ETFs are approved, they could attract institutional investors and possibly drive a price rally.
Fortunately, now that Paul Atkins is SEC Chair, hopes of approval of these ETFs have also increased.
The post TRUMP Token Price Rockets 70%, Is Meme Coin ETF About to Drop? appeared first on CoinGape.
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