The TRUMP memecoin is experiencing noteworthy momentum as whale activity spikes following the announcement of an exclusive luncheon for top token holders with former President Donald Trump at his Mar-a-Lago estate. Scheduled for April 25, this event is generating buzz, inviting the top 297 holders of the TRUMP token, with the 29 largest wallets receiving eligibility for a private reception, pending background checks.
Recent data from analytics platform Santiment reveals that the number of whale wallets—those holding over 1 million TRUMP tokens—has reached a 5-month peak of 83, marking a substantial rise from a low of 69 wallets seen last October. This surge comes as TRUMP has risen by 27% over the past week, currently trading at $3.71, following a high of $4.35 shortly after the luncheon announcement.
The token saw a remarkable rally over the week, climbing 67% from a low of $2.68 to a high of $4.51, a stark contrast to its previous sideways trading pattern observed throughout February and early March.
Whale Accumulation Accelerates
On-chain insights from Lookonchain indicate that a significant transfer of 1.5 million TRUMP tokens, valued at approximately $5.85 million, was executed from a BitGo Custody Wallet to a newly created wallet, suggesting strategic accumulation among key holders. Initial evidence of the movement included a small test transaction of 9 TRUMP tokens.
As of now, data from CoinCarp shows a total of 642,882 holders of TRUMP. Notably, the top 10 wallets combine to hold over 91% of the total supply, with the top 100 wallets retaining over 97%—highlighting the concentration of holdings within the token’s ecosystem.
Dominick John, an analyst with Zeus Research, emphasizes that the upcoming Mar-a-Lago event is acting as a catalyst for whale accumulation, referring to the current trend as one characterized by “narrative-led flows and whale positioning.” Notably, Tether CEO Paolo Ardoino is set to attend the event, potentially signaling forthcoming ecosystem announcements related to the TRUMP token.
A Look Back at the Last Gala
This isn’t Trump’s first event of this nature; the inaugural crypto gala took place in May 2025, hosting the top 220 TRUMP token holders alongside crypto executives and athletes. That event’s announcement on April 23, 2025, propelled TRUMP to a staggering peak of $15.59 just two days later. However, the token faced a swift downturn, dropping to $14.51 on the day of the gala and subsequently plummeting to $8.90 within a month.
Analyst John warns that a similar dynamic may unfold this time, noting the historical trend of “announcement-driven hype followed by a gradual post-event downtrend.”
As the price chart currently shows, TRUMP is stalling in a supply zone between $4.45 and $5, with the Choppiness Index at 45.91 indicating a consolidation phase post-breakout. At press time, the token has pulled back approximately 5% within the last 24 hours, amid a daily trading volume decrease of around 31% to approximately $350 million.
With anticipation building around the Mar-a-Lago gala, the coming days may reveal how the dynamics of whale behavior and market sentiment unfold for TRUMP.
