Crypto whales accumulated more OFFICIAL TRUMP (TRUMP) tokens ahead of an April 25 luncheon at President Donald Trump’s Mar-a-Lago club in Florida, an event that extends invitations to the largest holders.
Blockchain analytics firm Lookonchain flagged one wallet that withdrew roughly 105,754 TRUMP from Binance on Saturday, adding to an existing holding of about 1.13 million TRUMP (roughly $3.2 million), according to an X post. Two days earlier, another whale pulled 850,488 TRUMP from exchange Bybit. Additional on-chain records show a holder increased their balance to more than 368,000 TRUMP after withdrawing from BitMart, and a fourth wallet boosted its stash to over one million tokens following a withdrawal from Bybit, per Solscan explorer data.
The token’s holder perks have drawn scrutiny. Democratic lawmakers and critics say Trump could be using his position for personal financial benefit through the project; legislation has been proposed to curb potential profiting from memecoins tied to the president.
The top 297 TRUMP holders are invited to the Mar-a-Lago luncheon, with the top 29 offered a private reception, despite the White House Correspondents’ Association Dinner taking place in Washington, D.C., the same day.
Price action and distribution
After Trump announced the luncheon in March, TRUMP briefly jumped to $4.35 but has since slid more than 33% to about $2.80 as of Monday, per CoinGecko. Zeus Research analyst Dominick John told Cointelegraph that retail-driven selling in a market with thin liquidity is pushing the price down, while concentrated insider supply means even small distributions from big wallets can absorb bids and cap upside.
On-chain concentration is extreme: CoinCarp lists roughly 642,882 TRUMP holders, with over 91% of the supply in the top 10 wallets and more than 97% held by the top 100.
Background and outlook
The token first saw major attention after a “crypto gala” dinner in May 2025, months after Trump’s Jan. 20 inauguration. TRUMP peaked at $15.59 about a month before that event, then fell as the event approached and traded around $8.90 a month afterward.
John said TRUMP could rebound, with the 2026 midterms and other announcements potentially serving as sentiment drivers. Event-driven projects like a proposed “Trump Billionaire Game” might create short-term social buzz and price momentum, while institutional accumulation and other catalysts could help form a floor and spark further gains.
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