United States President Donald Trump’s memecoin team denied rumors circulating on social media that holders of the Official Trump (TRUMP) token need at least $300,000 to participate in an upcoming dinner with the president.
On April 25, the official X account of the Trump memecoin clarified that there is no $300,000 requirement to join the memecoin project’s dinner event featuring the US president.
The rumor stemmed from community members citing the Solana blockchain explorer showing holders on the token’s contract address. At the time of writing, the explorer shows that the 220th-largest holder has 33,114 TRUMP, worth more than $400,000. However, the memecoin team said the explorer doesn’t reflect their criteria.
“People have been incorrectly quoting #220 on the block explorer as the cutoff. That’s wrong because it includes things like locked tokens, exchanges, market makers, and those who are not participating. Instead, you should only be going off the leaderboard,” they wrote.
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Trump to hold dinner for top 220 memecoin holders
On April 23, the Trump Coin team revealed the leaderboard, showing the wallet addresses of those who are in the lead to qualify for the dinner event with the president.
The final guest list is still not finalized, but the memecoin team said any tokenholder who wants to be eligible for the dinner must go through a background check. In addition, their wallet will also go through Know Your Customer and compliance measures.
According to the memecoin’s official site, the team will pick the winners based on time-weighted holdings. This calculates the amount held and the time they held on to the tokens. “The longer you hold, the higher your weighted score becomes,” the team wrote.
At the time of writing, the top holder in the leaderboard holds over 1.1 million tokens, worth $14.6 million, but only has a time-weighted score of over 686,000. In comparison, the 220th wallet holder has 1,125 TRUMP, valued at almost $15,000, and a score of 136.
The leaderboard also shows that some addresses with zero current TRUMP holdings remain eligible for the dinner. This is likely due to how long they previously held their tokens.
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