Major Trump Memecoin Investors Accumulate Tokens Before Exclusive Florida Event
Large-scale holders controlling more than 1 million tokens of President Donald Trump's memecoin have reached their highest level in five months, with market observers linking this trend to a forthcoming exclusive gathering with Trump at his Florida estate
Major cryptocurrency investors holding over one million tokens of US President Donald Trump's memecoin have increased to levels not seen in five months, following last week's announcement of an exclusive luncheon at his Florida residence for the largest token holders.
According to data shared by Santiment via an X post on Monday, the count of whale wallets containing more than 1 million TRUMP tokens (valued at approximately $3.7 million) has climbed to 83, representing the highest concentration since Oct. 8 last year.
The Trump team has scheduled the exclusive luncheon for April 25 at the Mar-a-Lago residence in Florida, with invitations extended to the top 297 token holders. Among these invited guests, the leading 29 holders will have the opportunity to attend a private reception with the president, contingent upon successfully completing background checks.
Following the announcement of the luncheon event, the TRUMP token experienced an impressive rally exceeding 50%, reaching a high of $4.35. Current market data shows TRUMP trading at $3.71 as of Wednesday, reflecting a 27% increase over the past seven days.
Dominick John, an analyst with Zeus Research, told Cointelegraph the Mar-a-Lago event, which offers access to the US president, is acting as a powerful catalyst for accumulation.
According to CoinCarp, a cryptocurrency data analytics platform, the TRUMP token currently has 642,882 holders. The distribution shows significant concentration, with the top 10 wallets controlling more than 91% of the total supply, while the top 100 wallets hold over 97%. During the inaugural event for TRUMP token holders held last year, Tron founder Justin Sun held the distinction of being the largest tokenholder.
John also highlights the involvement of other prominent guests, including Tether CEO Paolo Ardoino, who is confirmed to speak and attend the luncheon, as additional factors contributing to heightened user interest in the token.
"Momentum is driven by narrative-led flows and whale positioning," he said.
"The presence of Paolo Ardoino from Tether at this event hints at potential ecosystem announcements, providing a real catalyst. His appearance could transform the gala into a progress showcase for the TRUMP token," John added.
TRUMP spiked in lead up to last year's gala
The first "crypto gala" dinner hosted by Trump took place last year in May 2025, several months following his Jan. 20 inauguration as US president.
Attendance at the event was restricted to the top 220 TRUMP token holders and featured notable crypto industry executives including Hyperithm CEO Sangrok Oh, alongside anonymous and pseudonymous cryptocurrency traders such as Cryptoo Bear, and professional athletes like NBA champion Lamar Odom.
When the event was announced one month prior, on April 23, the token reached a peak value of $15.59 on April 25. Following this high point, the token entered a gradual decline. The value dropped to $14.51 on May 22, coinciding with the dinner date, before continuing its descent to $12.46 one week afterward and eventually reaching $8.90 one month later.
According to John's analysis, the coin is expected to follow a comparable trajectory following the conclusion of the upcoming April luncheon.
"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 around this event."
US lawmakers look to limit memecoin profits by politicians
Last year's event drew protests from US senators and former staffers who gathered outside the venue, while Democratic lawmakers have simultaneously introduced legislative proposals designed to restrict political influence and revenue generation from memecoins.
Introduced in February 2025, the Modern Emoluments and Malfeasance Enforcement (MEME) Act seeks to prohibit federal officials from leveraging their positions for memecoin profits. The legislation remains in the Committee stage at present and has not yet advanced to a voting phase in either the House or Senate chambers.
Additionally, the Stop Presidential Profiteering from Digital Assets Act proposes to criminalize the issuance, promotion, or sale of digital assets, including memecoins, by federal officials. The Curbing Officials' Income and Nondisclosure (COIN) Act, which shares similar objectives, has likewise stalled and not made progress beyond its introduction last year.