India, April 24 -- President Donald Trump will have dinner with the top 220 holders of the Trump memecoin, the cryptocurrency issuers announced on Wednesday. The 'black tie optional' event will be held on May 22 at the 78-year-old's private club in Washington, where he will talk about the future of crypto, the organizers further added.

Soon after the announcement, the $TRUMP memecoin's price rallied almost 70%, according to CoinDesk. It later retracted to below $13, still 43% over the past 24 hours.

"From April 23 to May 12, your average $TRUMP balance determines your spot," according to the website advertising the dinner. "Get $Trump Memes and climb the ranks."

The organizers added that the top 25 Trump coin holders will be invited to...