Major Token Holders Increase TRUMP Holdings Before Exclusive Mar-a-Lago Event
Large-scale cryptocurrency investors are increasing their holdings of TRUMP tokens in anticipation of an exclusive luncheon event scheduled at President Donald Trump's Florida Mar-a-Lago estate, with access limited to significant token holders.
Large cryptocurrency holders have persistently increased their positions in the TRUMP memecoin in the lead-up to an exclusive luncheon scheduled at US President Donald Trump's Florida Mar-a-Lago estate this month, with access granted exclusively to the most substantial token holders.
A single whale made a withdrawal of approximately 105,754 TRUMP tokens from the Binance platform on Saturday, adding to an existing collection of 1.13 million TRUMP tokens valued at roughly $3.2 million, based on data shared in an X post by blockchain analytics company Lookonchain on Sunday.
Just two days before that transaction, a separate whale moved 850,488 Trump tokens out of the cryptocurrency exchange Bybit.
By Monday, yet another investor had grown their TRUMP holdings to exceed 368,000 tokens following a withdrawal from the BitMart platform, while a fourth major holder expanded their collection to surpass one million tokens after making a withdrawal from Bybit, based on information from blockchain explorer Solscan.
Detractors have leveled accusations against Trump, claiming he is exploiting his role as US president to achieve personal financial enrichment through this arrangement. Democratic members of Congress have additionally put forward legislative proposals aimed at restricting political influence and financial profits derived from memecoins.
The 297 largest token holders have received invitations to attend a luncheon scheduled for April 25 at Trump's Mar-a-Lago property. The gathering features the president as the main keynote speaker and includes a private reception exclusively for the 29 largest holders, notwithstanding the fact that the White House Correspondents' Association Dinner in Washington, D.C., takes place on the identical date.
TRUMP drops 33% since March announcement
The March announcement by Trump regarding the luncheon triggered a TRUMP price surge exceeding 50%, reaching a maximum of $4.35. Nevertheless, the memecoin has subsequently declined by more than 33% to reach a trading price of $2.80 as of Monday, based on data from CoinGecko.
Dominick John, a market analyst at Zeus Research, explained to Cointelegraph that the price is probably being driven downward as retail investor-driven market selling outweighs already limited liquidity, resulting in continuous price repricing.
At the same time, insider supply overhang means even small distributions from concentrated wallets can absorb whale bids, limiting any meaningful upside follow-through.
Cryptocurrency data analytics platform CoinCarp reports 642,882 TRUMP token holders, with more than 91% of the total supply held within the top 10 wallets and exceeding 97% among the top 100 wallets.
Token spiked after the crypto gala announcement last year
Trump conducted his inaugural "crypto gala" dinner in May 2025, several months following his Jan. 20 inauguration as US president, an event which similarly attracted criticism from detractors who alleged he was leveraging his position to achieve personal financial benefits.
The token reached its highest point at $15.59 approximately one month prior to the gathering, but experienced a decline as the event date approached, progressively falling to $8.90 one month following the event.
John indicated that during this current cycle, the token might experience a price recovery, with the 2026 midterm elections serving as a potential sentiment amplifier alongside other favorable announcements. Positive catalysts and emerging indicators of institutional accumulation could assist in establishing a price floor and triggering reflexive upward movement, he explained.
One catalyst to watch is the potential for event-driven launches like the Trump Billionaire Game, which could generate the social buzz needed to drive short-term upside momentum.