The variety of whale wallets holding greater than 1 million of US President Donald Trump’s meme cash surged to a five-month excessive final week after Trump introduced he would host a luncheon for prime holders at his Florida house.
There are presently 83 wallets with over 1 million $Trump ($Trump) (equal to $3.7 million), the best value for a meme coin since October 8 of final yr, Santiment mentioned in an X submit on Monday.
A luncheon with Trump is scheduled for April 25 at his Mar-a-Lago mansion in Florida, in line with Trump’s workforce. The highest 297 token holders will probably be invited, and the highest 29 will probably be eligible to attend a personal reception with the President, topic to passing a background test.
Just a few days after the luncheon announcement, $Trump It rose greater than 50% to hit a excessive of $4.35. As of Wednesday, $Trump It’s buying and selling at $3.71, up 27% up to now seven days.
sauce: Saintly
Zeus Analysis analyst Dominic John instructed Cointelegraph that the Mar-a-Lago occasion, which supplies entry to the US president, is performing as a powerful catalyst for accumulation.
Crypto information evaluation platform CoinCarp lists 642,882 gadgets $Trump holders, with over 91% of provide concentrated within the prime 10 and over 97% concentrated within the prime 100. $Trump Final yr, Tron founder Justin Solar was the most important token holder.
The highest 10 wallets comprise over 91%. $Trump. sauce: coin carp
John additionally pointed to different friends scheduled to talk and attend the luncheon, together with Tether CEO Paolo Ardoino, as a possible issue for consumer curiosity.
“Momentum is determined by the narrative-driven movement and the whale’s place,” he says.
“Tether’s Paolo Ardoino’s presence at this occasion indicators a possible ecosystem announcement and is an actual catalyst. His look might flip the celebration right into a showcase of technological progress.” $Trump It’s a token,” John added.
$Trump Surge for final yr’s celebration
Trump final yr held his first “Crypto Gala” dinner in Might 2025, just a few months after he was inaugurated as US president on January 20.
Restricted to prime 220 $Trump Token holders included crypto executives corresponding to Hyperithm CEO Sangrok Oh, in addition to nameless and pseudonymous crypto merchants corresponding to Cryptoo Bear, and sports activities stars corresponding to NBA champion Lamar Odom.
A month previous to the occasion announcement on April 23, the token peaked at $15.59 on April 25, however from that time on, the token started a gradual decline. The value dropped to $14.51 on Might twenty second, the day of the dinner, however steadily declined to $12.46 every week later and $8.90 a month later.
John mentioned the coin is more likely to comply with an analogous trajectory after the following luncheon concludes in April.
“Traditionally, Trump occasions have proven a section of announcement hype adopted by a gradual downward development after the occasion. Until new developments emerge relating to this occasion, this one will doubtless comply with an analogous trajectory.”
US lawmakers search to restrict meme coin income from politicians
Final yr, U.S. senators and former employees members protested exterior the occasion, and Democratic lawmakers additionally launched laws to restrict the political affect and income from meme cash.
The Trendy Remuneration Misconduct (MEME) Act was launched in February 2025 to stop federal staff from utilizing their positions to revenue from meme cash. It’s presently in committee and has not been voted on within the Home or Senate.
In the meantime, the Cease Digital Asset Exploitation Act goals to make it unlawful for federal staff to concern, promote, or promote digital belongings corresponding to meme cash. The same Civil Service Earnings Limitation Act (COIN) has additionally made no progress since its introduction final yr.
