Crypto whales have acquired significant amounts of the TRUMP meme coin as an exclusive luncheon at former President Donald Trump’s Mar-a-Lago residence approaches. The top 297 token holders are invited to the April 25 event, which has prompted new accumulation despite the token’s price falling over 33% since the announcement. Critics have accused Trump of leveraging his position for personal financial gain.
Several crypto whales have increased their holdings of the OFFICIAL TRUMP (TRUMP) meme coin ahead of a private luncheon. According to blockchain analytics, one whale withdrew about 105,754 TRUMP from Binance on Saturday, adding to a stash worth about $3.2 million.
Two other large holders withdrew large sums from Bybit and BitMart in recent days. The event at Trump’s Florida residence offers entry to the top 297 token holders and a private reception for the top 29. Democratic lawmakers have introduced bills to limit political influence and profits from meme coins.
The token’s price spiked to $4.35 after the luncheon was announced in March. It has since dropped by over 33% to trade at $2.80 as of Monday, according to data. Analyst Dominick John stated, “The price is likely being pushed lower as retail-driven market selling overwhelms already thin liquidity.”
He added that insider supply overhang can absorb whale bids, limiting upside. Over 91% of the TRUMP supply is concentrated among the top 10 wallets, listed by a data platform. A similar “crypto gala” hosted by Trump last year also drew criticism for potential personal financial gain.
The token peaked at $15.59 before that 2025 event but declined afterward. John noted potential catalysts like the 2026 midterms could aid a recovery. “One catalyst to watch is the potential for event-driven launches like the Trump Billionaire Game,” he said, which could generate social buzz for short-term momentum.
