US President Donald J. Trump-linked meme coin, the Official Trump (TRUMP) token, is now being promoted not merely as a digital asset but, for some, as a perceived “golden ticket” into the inner sanctum of political influence.
The opulent dinner hosted by Trump for influential entrepreneurs and top buyers of the TRUMP token has intensified this perception, making the token a lightning rod for controversy, widespread speculation, and significant ethical alarm bells.
On May 22nd, an opulent, black-tie-optional dinner at his Virginia golf club for the top 220 buyers of the TRUMP token. The event, complete with filet mignon, halibut, and an array of Trump-branded memorabilia, wasn’t a standard campaign fundraiser. Observers suggest it was something far more direct: a clear monetization of presidential influence through a speculative crypto asset.
Crypto whales and influential entrepreneurs jetted in from around the globe, reportedly including figures like the Chinese billionaire Justin Sun and Korean executive Sangrok Oh. They gathered, it’s suggested, with an eye on currying favor or perhaps shaping the future of crypto policy in the U.S.
Critically, attendees didn’t earn their seats through traditional, regulated political donations. Instead, access was granted by holding large amounts of the speculative asset (TRUMP) controlled in part by Trump’s family business. For some, the appeal was access. For others, it was pure spectacle. And to many, it was both.
The “pay-to-play” optics of the $TRUMP token and its associated gala have not gone unnoticed, triggering “ethical alarm bells.” The core concern revolves around whether this constitutes a “direct monetization of presidential influence,” effectively selling access to one of the world’s most powerful offices via a highly speculative and largely unregulated digital token.
, while a few TRUMP wallets have reaped millions–58 wallets made over $10 million each–more than 764,000 wallets have lost money on TRUMP, Chainalysis has unveiled. Many were lured in by promises of access or quick profit. Instead, they became collateral in a volatile game of political-financial alchemy.
Despite the ethical storm clouds gathering, the $TRUMP token itself displayed dubious behavior during trading. , TRUMP traded at $13.59 in the past 24 hours, but up 45% in the last 30 days, a period during which the US president has continued to push for the adoption of digital assets in the United States.
On the other hand, the daily chart below shows that despite its origins as a meme, TRUMP has technical momentum. The token recently broke out of an ascending triangle pattern on Binance’s TRUMP/USDT chart–a bullish signal often seen as a precursor to continued upward price action.
The potential price targets are derived by measuring the height of the triangle (the vertical distance from the lowest point of the ascending trendline to the horizontal resistance) and projecting that distance upwards from the breakout point.
In this case, the first target stands at $17.63–representing the initial projected move after the breakout. The second target is $22.65, a more ambitious one suggesting a further extension of the upward move if the breakout continues.
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