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Official Trump (TRUMP) memecoin surged 52% following an announcement of an exclusive dinner with top tokenholders and former US President Donald Trump. While some see this as a bullish signal, concerns linger over the token’s long-term viability given its high concentration and lack of utility.
- TRUMP memecoin surged 52% after Trump announced an exclusive dinner for top holders, but its sustainability is questioned due to high founder token allocation (80%).
- Despite a $2.6B market cap, TRUMP lacks utility compared to DeFi giants like Arbitrum ($2.4B TVL) and Maker ($5.9B TVL).
- TRUMP's $700M futures open interest exceeds Chainlink and Polkadot, but derivatives demand doesn't guarantee long-term price support.
📎 Related coverage from: cointelegraph.com