The number of cryptocurrency wallets holding over one million TRUMP tokens has hit a five-month peak, with 83 such accounts now active-valued at $3.7 million. The surge follows President Donald Trump’s announcement of a private luncheon at his Mar-a-Lago estate on April 25, inviting the top 297 token holders, including the elite 29 eligible for a direct audience with him.
TRUMP surged over 50% after the event was announced, peaking at $4.35 before settling at $3.71. Analysts cite the gathering as a narrative catalyst, especially with high-profile attendees like Tether CEO Paolo Ardoino expected to speak.
Data from CoinCarp shows 91% of TRUMP supply is held by the top ten wallets, underscoring extreme centralization. This pattern mirrors last year’s inaugural gala, which drove the token to $15.59 before a sustained decline.
Experts warn that post-event momentum may fade unless new ecosystem developments emerge. Meanwhile, congressional efforts to restrict political profiteering from digital assets remain stalled, including the MEME Act and Stop Presidential Profiteering bill.