Large holders of the TRUMP memecoin have sharply increased their positions ahead of a planned gathering for major token holders at Mar-a-Lago, the Florida residence of US President Donald Trump.
According to blockchain analytics firm Santiment, the number of wallets holding more than one million TRUMP tokens has climbed to 83, marking the highest level since October 2025. At current prices, those holdings are collectively valued at roughly $3.7 million.
The accumulation follows the announcement of a private luncheon scheduled for April 25 at Mar-a-Lago. The event will invite the top 297 token holders, while the top 29 will be eligible for a private reception with the president, subject to background checks.
Market activity suggests the announcement has already influenced investor behavior. The TRUMP token surged more than 50% in the days after the event was revealed, briefly reaching $4.35 before stabilizing near $3.70.
Concentrated Ownership Shapes Token Dynamics
On-chain data shows the TRUMP token supply remains highly concentrated among a small group of holders. Research platform CoinCarp estimates that more than 91% of the supply is controlled by the top ten wallets, while the top 100 addresses account for roughly 97%.
This level of concentration means large investors – often referred to as whales – can have a significant impact on market price and liquidity. Analysts note that narrative-driven events such as exclusive gatherings or announcements frequently trigger short-term accumulation cycles.
Dominick John, an analyst at Zeus Research, said the Mar-a-Lago gathering is acting as a catalyst for speculative interest.
Political Events and Crypto Speculation Intersect
The planned luncheon echoes a similar event held in May 2025, which brought together the largest TRUMP token holders along with crypto industry figures and investors. The announcement of that gathering also triggered a sharp rally in the token’s price.
During the previous cycle, TRUMP reached a peak shortly after the event announcement before gradually declining in the following weeks. Analysts say this pattern – often described as “buy the rumor, sell the news” – is common for tokens tied to high-profile events.
The upcoming gathering is also expected to attract prominent figures from the crypto sector, including executives and investors connected to the broader digital asset ecosystem.
At the same time, the token has drawn scrutiny from policymakers concerned about the intersection of political influence and digital assets. Several legislative proposals in the United States have attempted to limit the ability of public officials to promote or profit from memecoins, though none have yet advanced to a final vote.
For now, whale accumulation suggests traders are positioning for another narrative-driven rally as the April event approaches.
