The TRUMP memecoin rallied sharply overnight after organizers promoted a new gala event offering invitations to the token’s largest holders. The token climbed to roughly $4.40 before stabilizing near $4, marking its highest level in more than a month after a prolonged decline. Three newly created wallets withdrew about 2.54 million TRUMP tokens worth roughly $8.8 million from the Binance exchange within a 12-hour window, signaling potential accumulation by so-called whale traders.
One wallet withdrew approximately 2.2 million tokens valued at nearly $6.9 million. The address previously drew attention after reportedly losing about $15.7 million trading the MELANIA memecoin last year, but the recent TRUMP purchase is already showing an unrealized gain of several million dollars based on current prices.
The buying activity followed the announcement of a promotion tied to an upcoming event at President Donald Trump’s Mar-a-Lago club in Palm Beach, Florida. According to the campaign, the top 297 token holders during a qualification period running from March 12 to April 10 will receive invitations to an April 25 conference and luncheon, while the top 29 holders will gain access to a VIP reception with the president.
