The team behind the Trump memecoin said Thursday that the top 220 holders on its list, where the smallest wallet holds $420 worth of TRUMP, are eligible to win dinner with President Donald Trump, contrary to rumors that a six-figure token stash was required.

“We want to clarify a few things people seem confused by on X and in the Media,” the team’s X account posted. “You need $300K+ to participate (You Don’t); That we’re unlocking into this competition (We’re Not).”

TRUMP surged 70% this week, trading at around $12 as of Thursday, mainly driven by hype around the so-called “Dinner with Trump” event, according to CoinDesk’s earlier reporting.

Some users on X claimed that only holders with more than $300,000 in tokens could participate. Others speculated that the wallet ranked 220 on a blockchain explorer was the minimum cutoff.

The team dismissed both claims, stating that users must register via the official leaderboard and that only time-weighted holdings during the competition will count.

Currently, the leaderboard’s top wallet, under the pseudonym “Sun,” holds over 1.1 million TRUMP tokens, worth nearly $14 million. The 220th spot was held by “HAR,” with just 35.3 TRUMP tokens, or about $420 in dollar terms.

Twenty five wallets are listed as VIPs on the leaderboard, where the cut-off holder sits on over $400,000 worth of TRUMP.

The team also addressed concerns about token unlocks affecting the leaderboard, stating that both the cliff unlock and subsequent daily unlocks would remain inaccessible for 90 days, outlasting the competition itself.

“We want to say again that the tokens from the initial cliff unlock and the following 3 months of daily unlocks will remain locked, each for an additional 90 days,” it said.

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index.

The CoinDesk 20 is currently trading at 2774.43, up 1.5% (+40.48) since 4 p.m. ET on Thursday.

Eighteen of 20 assets are trading higher.

Leaders: SUI (+13.7%) and BCH (+7.1%).

Laggards: POL (-1.9%) and ADA (-0.5%).

The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.

Bitcoin’s (BTC) recent uptrend has likely set the stage for a six-figure price mark, catalyzing increased trading activity in the memecoin sector, where DOGE and SHIB are seeing bullish activity.

BTC, the leading cryptocurrency by market value, briefly topped $95,000 soon before press time, the highest since March 2, CoinDesk data show. The move comes three days after prices crossed above the Ichimoku cloud momentum indicator, signaling a bullish shift in the market trend.

Supporting the constructive outlook are the consecutive daily candles with long tails (marked by box), suggestive of buy the dip mentality, and the upward-sloping five- and 10-day simple moving averages (SMA). Additionally, the daily chart MACD histogram prints higher bars above the zero line to suggest strengthening upward momentum.

In other words, the path of least resistance is likely on the higher side, hinting at a continued move higher to $100,000, which is also the most popular call option strike on Deribit. The bullish outlook risks negation below $88,800, the former resistance-turned-support.

AI’s take on SHIB and DOGE

Amid this bullish backdrop for bitcoin, the CoinDesk AI market insight bot has identified a breakout in SHIB, the world’s second-largest meme coin, suggesting increased risk-taking in the broader crypto market.

«Bitcoin’s rise above $92K has triggered increased memecoin trading, with SHIB breaking out of a year-to-date falling channel and showing bullish technical indicators, » the bot said. «SHIB has demonstrated exceptional volatility with a 15.6% price fluctuation, establishing strong support at 0.00001225 after bottoming on April 21.»

The chart shows that SHIB has topped the trendline, characterizing the year-to-date downtrend and is looking to establish a foothold above the Ichimoku cloud, following BTC’s lead. That would confirm the trend reversal higher.

Meanwhile, DOGE, the world’s leading cryptocurrency by market value, could soon follow suit, with the AI bot pointing to investor accumulation at around 18 cents.

«Recent price action shows consolidation above 0.180 with decreasing volatility, suggesting accumulation before [bullish] continuation,» the bot said.

DOGE has risen over 35% since probing lows under 13 cents on April 7.