Whale wallets holding more than one million TRUMP tokens have climbed to 83, the highest level since October, following the announcement of a Mar-a-Lago gala for top holders.
The April 25 event will invite the top 297 holders, with the top 29 gaining access to a private reception with US President Donald Trump, driving renewed accumulation.
“Momentum is driven by narrative-led flows and whale positioning,”
Said Zeus Research analyst, Dominick John.
TRUMP surged more than 50% after the announcement to a peak of $4.35 and is up 27% over the past week, trading around $3.71 as speculative demand builds.
Data shows extreme concentration, with over 91% of supply held by the top 10 wallets and 97% by the top 100, highlighting the influence of large holders, and following the move TRUMP was unchanged at $3.71.
Previous gala events triggered similar price action, with the token peaking near $15.59 ahead of the 2025 dinner before entering a prolonged decline in the weeks after.
Analysts warn the current rally may follow a comparable pattern unless new developments emerge, while US lawmakers continue pushing legislation aimed at limiting political figures from profiting off memecoins.