Donald Trump’s value of memes play jumped more than 50% on Wednesday after his official website said that the 220 best holders of the play were invited to a private gala dinner with the president on May 22.
The 25 main medal holders would also get “an ultra-exclusive VIP reception with the president”, as well as a special visit, said the website.
The part, called $ Trump, increased more than 50% after the announcement to negotiate at around $ 14.70. He fell slightly at $ 12.30 at the start of negotiations on Thursday, according to CoinmarketCap.
Despite the sharp increase, the price of the president’s medal is below the peak, he hit shortly before his inauguration in January, when he increased to $ 6 to $ 75. The launch of coins for Trump and his wife, Melania, prompted experts to accuse the pair of conflicts of “shameful” interests.
The sudden jump of Trump’s memes play on Wednesday came while investors expected at the start of a process that allows more original investors and initiates to remove their assets. This “unlocking” generally leads to a drop in price, but the X account of the part said that it would be delayed by 90 days.
The same parts are digital tokens inspired by trends such as viral moments and have no inherent utility. They generally fall into value after a first strong gathering.
Last year, the “Hawk Tuah Girl” Haliey Welch, made famous online by a viral video, launched a piece of memes which was worth $ 490 million in December, but it quickly dropped in value and is now only worth $ 2.9 million.
While Trump was skeptical about cryptocurrency in his first administration, he has since called “president of cryptography” and promised to support the growth of the sector.
In March, he hired David Sacks venture capital to act as an artificial intelligence and a Crypto Tsar, as well as to establish a national stock of Bitcoin and other cryptocurrencies.
Trumps have become actively involved in the cryptocurrency sector. The First Lady also launched a room even in January, and last year, the president and her three sons launched a cryptographic platform called World Liberty Financial.
Meanwhile, Trump Media and Technology Group, where the president is a majority shareholder, announced plans last month to work with the Crypto.com negotiation operation to provide investment products related to Crypto.
This month, the US Ministry of Justice said it was dissolving a unit dedicated to the survey of cryptocurrency fraud, as the surveillance of the digital asset sector has started to loosen.
Deputy Prosecutor General Todd Blanche said that the ministry would no longer pursue litigation or application measures which had “the effect of superimposing regulatory executives on digital assets while the real regulators of President Trump do this work outside the framework of punitive criminal justice”.
Deregulation has prompted Democrats and childcare dogs to influential congress to warn growing risks for investors and the economy posed by multiple deregulatory cryptographic actions in federal agencies.
