Large holders moved to shore up positions in the OFFICIAL TRUMP (TRUMP) token ahead of an April 25 luncheon at former President Donald Trump’s Mar-a-Lago club — an event that reportedly extends invitations to the largest token holders.
Blockchain tracker Lookonchain highlighted one wallet that withdrew about 105,754 TRUMP from Binance on Saturday, adding to an existing holding of roughly 1.13 million TRUMP (about $3.2 million), according to an X post. Two days earlier, another large holder pulled 850,488 TRUMP from Bybit. Additional on-chain activity shows a wallet increased its balance to more than 368,000 TRUMP after withdrawing from BitMart, and a fourth address boosted its stash to over one million TRUMP following a Bybit withdrawal, per Solscan explorer records.
Perks for token holders have attracted scrutiny. Democratic lawmakers and other critics argue the project could enable personal financial benefit tied to the president, and lawmakers have proposed legislation aimed at limiting potential profiting from memecoins linked to public officials. According to organizers, the top 297 TRUMP holders are invited to the Mar-a-Lago luncheon and the top 29 are offered a private reception — an invitation schedule that coincides with the White House Correspondents’ Association Dinner in Washington, D.C., on the same day.
Price and distribution dynamics
After the luncheon announcement in March, TRUMP briefly surged to about $4.35 but has since fallen more than 33% to roughly $2.80 as of Monday, by CoinGecko data. Dominick John, an analyst at Zeus Research, told Cointelegraph that retail-driven selling in a market with thin liquidity is weighing on the price. He said the extreme concentration of supply among insiders means even modest distributions from big wallets can soak up bids and limit upside.
On-chain concentration is pronounced: CoinCarp lists roughly 642,882 TRUMP holders, with over 91% of the supply held by the top 10 wallets and more than 97% owned by the top 100 addresses.
Background and outlook
TRUMP first drew major attention after a so-called crypto gala dinner in May 2025, months after the Jan. 20 inauguration. The token peaked at about $15.59 roughly a month before that event, then declined as the date approached and traded near $8.90 a month later.
John said the token could rebound if political events such as the 2026 midterms or fresh announcements drive sentiment. Short-term buzz around event-driven projects — for example, a proposed ‘Trump Billionaire Game’ — could spur social attention and momentary price moves, while more sustained accumulation by larger players or clearer catalysts might help establish a price floor.
This article was produced in accordance with Cointelegraph’s editorial standards. Readers are encouraged to verify on-chain activity and price data independently.