Trump Token Update: Trump Memecoin Soars 85% in a Week Despite Democrats’ Impeachment Demands and Significant Unlocks

TRUMP, the memecoin associated with U.S. President Donald Trump, has risen approximately 16% in the last 24 hours, even as Democratic lawmakers cite the president’s involvement with the token as a potential basis for impeachment following a significant unlock earlier this month. At a town hall on Friday, Sen. Jon Ossoff (D-Ga.) highlighted the crypto project offering its leading holders the chance to attend a dinner event with President Trump, calling it a clear case of selling access to the presidency, as reported by NBC News. “When the sitting president of the United States is selling access for what are effectively payments directly to him, there is no doubt that this qualifies as an impeachable offense,” Ossoff stated. U.S. Senators Adam Schiff (D-Calif.) and Elizabeth Warren (D-Mass.) also sent a letter on April 25 to the U.S. Office of Government Ethics requesting an investigation into whether President Trump breached federal ethics rules by inviting top investors.

The allegations arose from an announcement regarding a private dinner scheduled for May 22, where the top 220 TRUMP memecoin holders will have the opportunity to meet with the U.S. President. Despite the controversies, the TRUMP token has continued to climb. It surged over 70% following the event announcement and has gained 85% in value over the last seven days.

This surge occurred even after a substantial $320 million unlock earlier this month, which significantly increased its circulating supply. In under three months, the TRUMP token is anticipated to face an additional unlock of 25.1% of its current circulating supply, currently valued at nearly $780 million. Despite this recent upward trend, the token remains down more than 77% from its all-time high above $70, reached shortly after its launch. The price decline has led to an estimated $2 billion in investor losses.