US President Donald Trump has confirmed that the much-anticipated May Gala dinner will go ahead on May 22. This announcement has drawn renewed attention to the TRUMP meme coin, sparking speculation about a potential price rally in the days leading up to the event.
Trump Confirms Gala, Eyes on TRUMP Coin
In a recent post on X, President Trump doubled down on his decision to host the Gala despite growing criticism surrounding the promotion of the TRUMP meme coin. Though the price has remained mostly flat around $11, traders are watching closely.
According to crypto analyst Emma, TRUMP is showing early signs of a rebound. The coin bounced off the $10.50 support and now appears to be targeting the $12.50 resistance. A strong breakout above this level could set the stage for the next bullish wave, potentially pushing prices to $13 or higher.
Exclusive Details of the Gala Dinner
The Gala will be held at Trump National, the former president’s private club in Washington. Only the top 220 holders of the TRUMP meme coin will receive invites, determined by a contest that ends May 12.
One notable attendee is expected to be Justin Sun, founder of Tron. Sun currently tops the TRUMP leaderboard with 1.47 million tokens, making him one of the coin’s most influential holders.
But that’s not all. The top 25 holders will enjoy a private VIP reception with Trump himself, along with a guided VIP tour. These exclusive perks are fueling demand from crypto whales, which could further drive price gains in the coming weeks.
Whale Moves and Market Impact
Despite the upcoming event, the market has seen mixed signals. On-chain data from Lookonchain shows that two large whales recently dumped 756,128 TRUMP tokens, taking a $2.34 million loss on May 4. While this sparked some short-term concern, the broader sentiment remains optimistic ahead of the Gala.
With rising anticipation and high-profile involvement, TRUMP coin could see significant accumulation leading up to May 22.
