The number of whale wallets holding over 1 million TRUMP tokens has reached a five-month high following former US President Donald Trump’s announcement of a special luncheon for top holders. According to data from Santiment, there are now 83 such wallets, collectively holding tokens worth approximately $3.7 million. The event, scheduled for April 25 at Mar-a-Lago, has acted as a major catalyst, driving the token’s price up more than 50% after the news.
The upcoming luncheon at Mar-a-Lago has significantly increased whale accumulation of the TRUMP memecoin. There are now 83 wallets holding more than 1 million TRUMP, the highest number since October 8 last year, according to Santiment.
The top 297 token holders are invited to the April 25 event, with the top 29 eligible for a private reception subject to background checks. This exclusive access is acting as a powerful catalyst for accumulation, as stated by Zeus Research analyst Dominick John.
Following the announcement, the token’s price rose over 50% to a peak of $4.35. As of Wednesday, TRUMP was trading at $3.71, up 27% over the last seven days.
Data from CoinCarp lists 642,882 TRUMP holders, with over 91% of the supply concentrated among the top ten wallets. John noted that other guests, like Tether CEO Paolo Ardoino, who is scheduled to attend, are potential drivers of interest.
“Momentum is driven by narrative-led flows and whale positioning,” John said. “His appearance could transform the gala into a progress showcase for the TRUMP token,” he added regarding Ardoino.
The token spiked before a similar crypto gala held by Trump in May 2025, peaking at $15.59 on the announcement date. It began a gradual decline afterward, falling to $8.90 a month post-event.
John said it’s likely the coin would follow a similar trajectory after the upcoming luncheon. “Historically, Trump events show an announcement-driven hype phase followed by a gradual post-event downtrend,” he stated.
In response to such events, Democratic lawmakers have introduced bills to limit political profits from memecoins. The Modern Emoluments and Malfeasance Enforcement (MEME) Act was introduced in February 2025 to prevent federal officials from profiting.
