PANews reported on April 29 that according to The Block, cryptocurrency data company Kaiko stated that after Trump-related meme coin TRUMP announced on April 23 that "the top 220 token holders can attend the presidential dinner", the token's price surged 60% in a single day (from $9 to $14.5), triggering on-chain transfers of TRUMP tokens worth $2.4 billion, with on-chain activity increasing by 200%, creating the highest daily trading volume on CEX since mid-February. Kaiko noted that while Trump is challenging the claim that "meme coins are worthless", this move has also sparked controversy. Both political opponents and moral advocates have questioned the president's offer of exclusive rights to those who purchase his meme coin. Kaiko also stated: "As the excitement fades, trading volume decreases similarly to on-chain activity. However, based on the website's competition rules, we expect more activity in the coming weeks. As the deadline approaches, holders may transfer funds back on-chain to qualify for the competition, potentially increasing activity."
Kaiko: Trump's dinner plan announcement triggers $2.4 billion in on-chain transfers of TRUMP tokens
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