The number of large holders of the TRUMP memecoin has climbed to a five‑month high after organizers announced a luncheon at former President Donald Trump’s Florida residence. Onchain tracker Santiment says 83 wallets now contain more than 1 million TRUMP each — roughly $3.7 million apiece — the highest count since October 8 last year.
The event is set for April 25 at Mar‑a‑Lago. Trump’s team invited the top 297 token holders, with the top 29 offered the chance to attend a private reception with Trump subject to background checks. News of the gathering sent TRUMP’s price sharply higher: the token jumped more than 50% after the announcement and peaked at $4.35 before settling. As of Wednesday it was trading around $3.71, a seven‑day gain of about 27%.
Analysts say the promise of access to high‑profile figures is a powerful draw for large investors. Dominick John of Zeus Research says VIP access is acting as an accumulation catalyst, and that appearances by notable crypto executives could amplify interest. Paolo Ardoino, CEO of Tether, is scheduled to attend and speak — a presence John says could turn the luncheon into a platform for news that further drives buying.
Onchain distribution remains highly concentrated. CoinCarp data shows 642,882 wallets hold TRUMP in total, but the top 10 addresses control more than 91% of supply and the top 100 control over 97%. That concentration means price moves can be heavily influenced by a relatively small number of holders.
This is not the first time events tied to Trump have moved the token. At the inaugural TRUMP holder gathering in May 2025, crypto figures including Tron founder Justin Sun were among the largest holders in attendance. Last year’s announcements pushed the token to a $15.59 peak on April 25 following the buildup; prices then cooled in the weeks after the event, falling to $14.51 on the dinner date, $12.46 a week later and $8.90 a month out. Analysts warn a similar post‑event fade is possible unless fresh, substantive announcements emerge from the luncheon.
The dinners have also attracted political pushback. Protesters, including former congressional staffers, demonstrated outside last year’s event, and lawmakers have introduced bills aimed at limiting officials’ ability to profit from memecoins. The Modern Emoluments and Malfeasance Enforcement (MEME) Act, introduced in February 2025, would bar federal officials from leveraging their positions for memecoin profit and remains in committee. Separate proposals — the Stop Presidential Profiteering from Digital Assets Act and the Curbing Officials’ Income and Nondisclosure (COIN) Act — have likewise sought to restrict officials’ issuance, promotion or sale of digital assets but have not advanced.
With the April luncheon approaching, concentrated holdings and renewed whale accumulation mean TRUMP’s price is once again tightly linked to event‑driven narratives and any announcements from attendees or organizers. Until substantive developments are disclosed, price swings are likely to be driven more by headline momentum and big‑holder positioning than by broad retail adoption.