The number of large-scale holders, or "whales," of the TRUMP memecoin has surged to its highest level in five months, coinciding with the announcement of an exclusive event for top token holders hosted by former U.S. President Donald Trump at his Mar-a-Lago estate in Florida. Data from analytics platform Santiment reveals that wallets holding over 1 million TRUMP tokens have climbed to over 80, marking the highest count since October 8, 2025.
The catalyst for this accumulation appears to be a confirmed luncheon scheduled for April 25, 2026, for the top 297 holders of the TRUMP token. The 29 largest holders are set to receive an additional private reception with Trump himself, pending background checks. Following the event's announcement, the token's price jumped more than 50%, briefly touching $4.35. As of recent data, TRUMP was trading around $3.70, up 25% over the past week.
Token ownership remains heavily concentrated. According to CoinCarp data, the top 10 wallets control more than 90% of the entire supply, with the top 100 holding over 95%. Among the 642,882 recorded wallets, the vast majority hold only a fraction compared to the major players, with each of the 80+ whale wallets representing a position worth roughly $3.7 million at current prices.
The upcoming gala has drawn significant industry figures, including Tether CEO Paolo Ardoino, who is scheduled to attend and speak. Zeus Research analyst Dominick John suggested that Ardoino's presence could shift the event from a social gathering into a progress showcase for the TRUMP token, potentially influencing its perception and utility.
Market observers are drawing parallels to a similar event held in May 2025. The announcement of that dinner sent the token's price to $15.58, but it subsequently declined to $14.50 by the night of the event and fell further to $8.90 a month later. Analyst John expects a similar pattern: "Historically, Trump events show an announcement-driven hype phase followed by a gradual post-event downtrend. This event will follow a similar trajectory, unless new developments are unveiled."
This activity occurs against a backdrop of stalled legislative efforts in Congress. Bills such as the Modern Emoluments and Malfeasance Enforcement Act, the Stop Presidential Profiteering from Digital Assets Act, and the Curbing Officials’ Income and Nondisclosure Act—all introduced over the past year to prevent federal officials from profiting from digital assets—remain stuck in committee, failing to progress.
