April 23 (UPI) — President Donald Trump is inviting the top 220 holders of his $TRUMP meme to a private dinner, prompting the price of the coin to rise more than 50% on Wednesday.

The coins in circulation have a total value of $2.7 billion. The single coin rose $5.32, or 58%, to $14.32 on Wednesday afternoon. That’s the biggest move of any cryptocurrency, outpacing Sui, which is up 23%, according to CoinMarketCap.

The project’s website claims that 80% of the token supply is held by the Trump Organization and affiliated entities. The original offering was $10 and in all 1 billion are planned to be distributed over three years with a $31.37 billion fully diluted valuation

“Have Dinner in Washington, D.C. With President Trump,” reads a message on the Trump coin’s website.

The black tie option dinner is scheduled for May 22 at Trump National Golf Club in Sterling, Va., “for a once-in-a-lifetime evening,” according to the website. There is no charge to attend the dinner.

Afterward, there will be a reception with Trump for the top 25 wallets. Also, a “VIP White House Tour” will take place the following day.

“President Donald J. Trump is Known as the “Crypto President!” the website reads. “At this Intimate Private Dinner, Hear First-Hand President Trump Talk about the Future of Crypto.”

The top 220 average holders from April 23 to May 12 will earn the invitation.

“The more $TRUMP you hold-and the longer you hold it-the higher Your Ranking will be,” the website says.

Trump launched the coin three days before his Jan. 20 inauguration.

The speculative coin, which represents his “fight, fight, fight” response to the assassination attempt in Butler, Pa., on July 13, was trading for $31 on the first day for 200 million initially available. That’s 20% of the total to be made.

The meme features an image of Trump holding up his right fist and imposed over the word “FIGHT,” which appears three times.

First lady Melania Trump launched her own coin — $MELANIA — the next day.

According to Bitcoin.com, meme coins are cryptocurrencies or digital assets inspired by internet memes and online communities. “They often start as jokes or social experiments but can gain significant market value and attention due to their viral nature and community support,” according to the website.

The crypto coin is not intended as an investment opportunity, the U.S. Securities and Exchange Commission warned on Feb. 27.

“Given the speculative nature of meme coins, they tend to experience significant market price volatility, and often are accompanied by statements regarding their risks and lack of utility, other than for entertainment or other non-functional purposes,” according to the SEC.

“Accordingly, neither meme coin purchasers nor holders are protected by the federal securities laws.”

In September Trump’s sons, Donald Jr. and Eric, launched a separate crypto company called World Liberty Financial.

In March, Trump signed an executive order empowering the federal government to build a “strategic reserve” of cryptocurrency assets it seizes through law enforcement proceedings.

Earlier this month, the Department of Justice ended its National Cryptocurrency Enforcement Team, while also redirecting focus away from targeting crypto fraud.

“The President is openly inviting investors to have a bidding war over who can buy the most access to him while he laughs all the way to the bank,” Tony Carrk, U.S. executive director with Accountable.US, a nonpartisan advocacy group, said in a statement. “There has never been a clearer case of a President using their office to put money in their pocket, or greater potential for special interests to buy an administration’s favor that could threaten the public interest. Donald Trump is trampling over every historical ethical norm to see how much corruption he can get away with before his allies in Congress flinch.

“While Donald Trump wines and dines with his wealthy backers seeking access to the executive branch, working people across the country brace for higher costs under the Trump tariffs and less health security under the Trump budget.”