Trump Token's 85% Weekly Gain Casts Doubt on Democrats' Impeachment Calls, Mass Unlocks
US President Donald Trump's memecoin has sparked calls for impeachment and seen its circulating supply increase due to major unlocks. It continues to defy the laws of physics.
Francisco Rodriguez | Edited by Aoyon Ashraf on April 26, 2025, 7:29 PM
Key points:
- Trump's Memcoin has jumped about 15% in a day amid backlash over a private dinner with major token holders.
- Sen. Jon Ossoff described the dinner as evidence of “impeachment.”
- The mass unlocking of tokens has led to an increase in their circulating supply, but the value of the token continues to rise.
TRUMP, the meme coin associated with US President Donald Trump, has surged by around 16% in the last 24 hours, despite Democratic lawmakers citing the president's involvement in the token as possible grounds for impeachment, also following a major unlock earlier this month.
At a City Council meeting on Friday, Sen. Jon Ossoff (D-Ga.) noted that a cryptocurrency project is offering its key holders an invitation to dinner with President Trump, calling it a clear case of selling access to the presidency, NBC News reported.
“When a sitting president of the United States sells access for what are effectively payments to him directly, there is no question that this rises to the level of an impeachable offense,” Ossifi said.
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 asking for an investigation to determine whether President Trump violated federal ethics rules by soliciting major investors.
Read more: Dinner with the US President? All you need is a $420 TRUMP
The allegations come after the announcement that a private dinner would be held on May 22 where 220 of the largest TRUMP coin holders would be able to meet with the US President.
However, the TRUMP token continues to grow. The memecoin has increased by more than 70% since the event was announced and has already increased by 85% in the last seven days.
The gains come even after the token experienced a massive $320 million unlock earlier this month, significantly increasing its circulating supply. In less than three months, the TRUMP token is set to experience an additional unlock of 25.1% of its current circulating supply at the time of writing, which is nearly $780 million.
Despite the recent gains, the token is still down more than 77% from its all-time high of over $70, which it reached shortly after launch. The subsequent price drop has left investors with an estimated $2 billion in losses.
Read more: TRUMP Token Jumps 12% After US President Calls It 'Greatest of Them All'
