Trump Token Hits $2.73 Low, Rebounds on Mar-a-Lago Gala

Trump's memecoin crashed to an all-time low of $2.73 on Thursday, then bounced to $3.06 within minutes after his team announced a Mar-a-Lago luncheon for top holders. The token traded at $2.94 as of Thursday evening, up 2.4% in 24 hours but still down 96% from its January 2025 high of ₱4,368.50 ($73.43).

The April 25 event will host the top 297 holders based on time-weighted holdings from March 12 to April 10. The top 29 holders get a private reception with Trump, who is billed as the keynote speaker on the memecoin's website. A White House official told Politico the event isn't locked into Trump's schedule.

Trump held a similar dinner at his golf club in May 2025, where Tron founder Justin Sun — the largest holder at the time — received a watch presentation during the ceremony. Infinex founder Kain Warwick also attended after buying enough tokens to rank in the top 25 investors. Critics accused Trump of using his presidential position for personal financial gain after that event. Protesters including US senators and former staffers showed up shouting "Shame!" and "I hope you choke on your dinner!" at attendees, Bloomberg reported.

Two Trump-owned entities hold 80% of the token supply remaining after the initial coin offering, with a gradual release scheduled over three years. The token launched on January 17, 2025, three days before Trump's inauguration. Ethics experts condemned the project for conflicts of interest between Trump's presidential duties and his promotion of a coin that boosted his net worth. Democrats on the House Financial Services Committee called Trump's crypto activities "Crypto-Corruption," stating he licensed his name to the memecoin and received a cut of the supply as prices soared. Trump claimed he "heard about" the launch and said it was successful but stated he "doesn't really know much about it," despite his affiliations owning 80% of the supply that will be gradually released over three years.