US President Donald Trump is set to host a special dinner for the largest holders of his $TRUMP memecoin on May 22. President Trump is reportedly expected to dine with 220 holders of the "Official Trump" token at the Trump National Golf Club in Potomac Falls, Virginia. On the heels of the upcoming event, the price of the memecoin surged by over 11 percent to trade at $14.27 (roughly Rs. 1,222) on international exchanges on Wednesday.Meanwhile, a group of US senators and other individuals also plan to protest outside the golf course, accusing the President of using his political influence over the crypto market.Here's What We Know About the EventGuests have received a formal invitation to the event via email. The invite includes details on the dress code as well as timings for the event. All guests will reportedly need to submit to a background check before attending the galaEarlier this month, a Bloomberg report had highlighted that a majority of the top 25 $TRUMP token holders used foreign exchanges to purchase the memecoin, indicating they were based outside of the US.Justin Sun, the owner of the Tron blockchain, is among the VIP attendees of this gala dinner. At 1.4 million token holdings, Sun is listed as the largest holder of the memecoin. Sun confirmed Tuesday that he had received an invite to the event.“I'm excited to connect with everyone, talk crypto, and discuss the future of our industry,” Sun said in a post on X.Singapore-based crypto startup MemeCore is second on the Trump memecoin leaderboard and a representative from the company is likely to mark their presence, Fortune reported.The 220 dinner guests collectively hold an estimated $147.5 million (roughly Rs. 1,261 crore) worth of the $TRUMP token, that was launched on January 17.Trump Memecoin ProtestRobert Weissman from the nonprofit group Public Citizen is said to be organising the protest outside Trump's dinner venue. Democratic senator Jeff Merkley is also reportedly planning to join the protest.President Trump's son Eric Trump told the press that “most of these people are paid to protest”.At present, the Official Trump token ranks 37th on CoinMarketCap's crypto index. This means that the memecoin with the market cap of $2.86 billion (roughly Rs. 24,467 crore), is currently the 37th largest altcoin in the market. For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube. Further reading: Cryptocurrency, Donald Trump, Memecoin, Trump token, Gala Dinner  Radhika Parashar Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More Related Stories