The number of whale wallets holding more than one million TRUMP tokens has climbed to a five‑month high after organizers announced a luncheon at former President Donald Trump’s Florida residence for top holders. Santiment reported 83 wallets now hold over 1 million TRUMP — roughly $3.7 million — the largest count since Oct. 8 last year.
The luncheon is scheduled for April 25 at Mar‑a‑Lago, with the top 297 token holders invited and the top 29 eligible for a private reception with Trump, contingent on background checks, according to his team. Following the announcement, TRUMP gained more than 50%, peaking at $4.35; as of Wednesday it was trading at $3.71, up 27% over seven days.
Analyst Dominick John of Zeus Research said the promise of access to the president is a strong accumulation catalyst. He noted guests such as Tether CEO Paolo Ardoino — who is scheduled to attend and speak — could further stoke interest if they hint at ecosystem developments. “Momentum is driven by narrative‑led flows and whale positioning,” John said, adding Ardoino’s presence could convert the gala into a showcase for progress on the token.
Onchain data from CoinCarp shows 642,882 TRUMP holders overall, with supply highly concentrated: the top 10 wallets control over 91% of the supply and the top 100 control over 97%. At the first TRUMP holder event last year, Tron founder Justin Sun was the largest tokenholder in attendance.
TRUMP’s price previously spiked ahead of last year’s gala. Trump’s initial “crypto gala” in May 2025, limited to the top 220 holders, included crypto executives and public figures. The token peaked at $15.59 on April 25 following the announcement a month earlier, but then trended lower — to $14.51 on the day of the dinner (May 22), $12.46 a week later and $8.90 a month later. John said a similar pattern is likely after the upcoming event unless there are fresh announcements tied to the luncheon.
The gatherings have also drawn political scrutiny. US senators and former staffers protested outside last year’s event, and Democratic lawmakers have proposed legislation to limit officials’ ability to profit from memecoins. The Modern Emoluments and Malfeasance Enforcement (MEME) Act, introduced in February 2025, aims to prevent federal officials from using their positions to profit from memecoins and remains in committee. The Stop Presidential Profiteering from Digital Assets Act would make it illegal for federal officials to issue, promote or sell digital assets; a related Curbing Officials’ Income and Nondisclosure (COIN) Act has likewise failed to advance since its introduction.
As the April luncheon approaches, whale accumulation and high supply concentration keep TRUMP’s price action tightly linked to event‑driven narratives and any announcements from attendees or organizers.
