So, picture this: you have some digital coins tied to a former president. Not just any coins, mind you, but memecoins. And then, the team behind these coins dangles a carrot: a chance to attend a fancy dinner, maybe even meet the man himself, if you hold enough of these particular digital tokens.
- A memecoin linked to a former president offered a dinner with the man himself to holders, sparking significant crypto activity.
- The announcement caused a surge in blockchain transfers and onchain activity, with the TRUMP coin’s price jumping 60% in one day.
- This event challenges the notion that memecoins lack real value, while also raising ethical questions about political figures and digital assets.
What happens next? A whole lot of digital movement, that’s what. According to a report from Kaiko, a company that looks at crypto data, this dinner invite idea sparked a massive surge. We’re talking about $2.4 billion worth of transfers happening on the blockchain (that’s the public ledger where these digital coins live).
It wasn’t just transfers, either. Onchain activity, which is basically anything happening on that digital ledger, shot up by 200%. It was like everyone suddenly remembered they had these coins and started moving them around.
The price of the TRUMP coin itself went a bit wild too. Kaiko noted it jumped 60% in just one day, climbing from about $9 to $14.50. That’s a pretty quick climb for a digital token linked to internet jokes and politics.
Kaiko called it the busiest day for the token all month. It also saw its highest daily trading volume on the big, centralized exchanges (like the places where you might buy or sell crypto easily) since way back in mid-February. People were definitely paying attention.
Now, Kaiko pointed out something interesting. This whole thing, offering access based on holding a memecoin, challenges the idea that these types of coins have no real value. But it also stirred up some dust.
You see, offering exclusive access like this, tied directly to buying a specific digital asset, got some folks talking. Political rivals raised eyebrows. People concerned about ethics had questions. It’s a bit of a strange mix, isn’t it? Politics, digital money, and dinner invites.
The day after the announcement, something else happened that got people buzzing. Someone using the name “Sun” seemed to register for this upcoming memecoin event. This is according to Arkham Intelligence, a group that tracks blockchain activity.
These movements raised some suspicions. Could this address be connected to Justin Sun? He’s the founder of Tron, another crypto project, and he’s been a pretty vocal supporter of the former president.
It’s not the first time Justin Sun’s name has popped up near Trump-linked projects. Back in November, he announced that Tron had put $30 million into something called World Liberty Financial. It’s a DeFi project (that’s short for decentralized finance, basically financial stuff happening on the blockchain without traditional banks) that’s linked to Trump.
And after that $30 million investment? World Liberty Financial named Justin Sun as an advisor. So, the connection is there. Seeing a “Sun” register for the memecoin dinner just added another layer to the story.
It makes you wonder, doesn’t it? What drives this kind of activity? Is it just the lure of a dinner? Or is there more to it? The crypto world often throws up these odd situations that make you scratch your head a bit.
A few days before all this dinner talk, The Wall Street Journal reported something else based on data from Chainalysis (another firm that looks at blockchain data). They said this particular memecoin had “generated hundreds of millions worth of cryptocurrency profits for entities affiliated with Trump.” That’s a lot of digital profit tied up in a coin that started, well, as a memecoin.
After the initial burst of excitement and activity from the dinner announcement, things did calm down a bit. Kaiko noted that the trading volumes tapered off. The onchain activity slowed down too, kind of like the energy just naturally faded after the first big push.
But Kaiko thinks this might just be a pause. Based on the rules for the dinner competition posted on the event’s website, they expect another wave of activity to hit soon. It’s like waiting for the next act in a play.
Increased activity is likely coming in the next few weeks. Why? Because the deadline for the competition is getting closer. Holders will probably need to move their funds back onto the blockchain to make sure they qualify for the event. So, expect more digital shuffling as the date approaches.
It’s a strange dance between digital assets, political figures, and the simple human desire for access or maybe just a good dinner. The crypto market never fails to surprise you with its twists and turns.
Here’s what Arkham Intelligence noted about that “Sun” registration:
Someone with the username 'Sun' registered for the TRUMP memecoin dinner, Arkham says.
https://x.com/arkham/status/1915369751401922766
It just adds another layer to the whole story, doesn’t it? This world of memecoins and politics keeps things interesting, that’s for sure.
So, while the immediate frenzy has passed, keep an eye on that TRUMP coin. The dinner deadline is looming, and that could mean another round of digital fireworks on the blockchain.
