Trump meme-coin whales surge…accumulating ahead of Mar-a-Lago event

Large investors are rapidly accumulating US President Donald Trump’s meme coin, “Trump (TRUMP).”

According to Cointelegraph on the 18th (local time), the number of wallets holding more than 1 million TRUMP tokens rose to 83, marking the highest level in the past five months.

The shift comes after Trump’s team announced a dinner event for top holders at Mar-a-Lago in Florida. The event is scheduled for April 25, with the top 297 holders invited; the top 29 will also be able to attend a separate private reception.

Market reaction was immediate. Since the event announcement, TRUMP has climbed more than 50% to a peak of $4.35, and is trading around $3.71—up about 27% over the past seven days.

Analytics firm Santiment said the move is “a signal that whale investors are actively expanding their positions.”

According to on-chain data analytics platform CoinCarp, TRUMP tokens show a highly concentrated ownership structure: more than 91% of total supply is held by the top 10 wallets, and more than 97% by the top 100 wallets.

Dominick John, an analyst at Zeus Research, said “an event offering a chance for direct contact with the US president is acting as a powerful catalyst for accumulation.”

He added that “attendance by Tether CEO Paolo Ardoino is also expected, which could add anticipation for ecosystem-related announcements,” noting that “the event could go beyond a one-off and serve as a catalyst demonstrating project progress.”

Still, past cases suggest the possibility of a post-event pullback. In a similar event held last May, the price surged immediately after the announcement before turning lower after the event.

John said “there is a possibility that the pattern—rising on the event announcement followed by a gradual decline after the event—could repeat.”