The number of whale wallets holding over $1 million in Trump Memecoin surged to a five-month high following last week's announcement of a high-profile holder luncheon at his Florida home.
Source: Santiment
Dominick John, an analyst at Zeus Research, told Cointelegraph that the Mar-a-Lago event provided a direct engagement opportunity for the former U.S. president, becoming a significant catalyst for attracting funds.
The top ten wallets hold over 91% of TRUMP. Source: CoinCarp
“This momentum is primarily driven by narrative-driven capital flows and whale positioning,” he said.
“The presence of Paolo Ardoino from Tether at the event suggests there may be ecosystem-related announcements, which is undoubtedly a real catalyst. His attendance could turn the gala into a showcase for the progress of the TRUMP token,” John added.
TRUMP also surged before last year's gala.
Trump held the first “Crypto Gala” in May 2025, just months after his inauguration on January 20.
When the event was announced on April 23, the token peaked at $15.59 on April 25. However, it began to gradually decline from that point. On the day of the gala, May 22, it fell to $14.51, and then dropped to $12.46 within a week, further sliding to $8.90 a month later.
John indicated that a similar trajectory could be expected for the token following the upcoming luncheon.
U.S. lawmakers seek to limit profits for politicians in Memecoins.