According to Fox News, former President Donald Trump held an exclusive dinner for meme coin investors, where he criticized the Biden administration for persecuting crypto innovators (Fox News, May 23, 2025). This public support for cryptocurrency by a major political figure signals increasing institutional interest and could boost market sentiment towards meme coins and the broader altcoin sector. Traders should monitor meme coin trading volumes and price action for potential volatility spikes related to renewed political attention.