The number of high-value wallets holding more than one million units of the memecoin associated with former US President Donald Trump has reached a five-month high, according to data from Santiment. This surge comes in the wake of an announcement for a luncheon at Trump’s Mar-a-Lago estate in Florida, set for April 25, which is expected to draw the top holders of the coin.
As of the latest data, 83 wallets now hold over 1 million TRUMP tokens, representing a significant increase from the last peak on October 8, 2022. The event, which will host the top 297 token holders, is designed to offer exclusive access to the former president, with the top 29 holders invited to a private reception, pending background checks.
The Impact on TRUMP Token Value
The announcement of the Mar-a-Lago luncheon has had a notable impact on the value of the TRUMP token. In the days following the event’s reveal, the token’s price surged by more than 50%, peaking at $4.35. As of the latest report, the token has risen 27% over the past seven days, trading at $3.71.
Historical Performance and Future Outlook
According to Dominick John, an analyst at Zeus Research, the event is acting as a powerful catalyst for accumulation, driven by the narrative and the presence of influential figures. Tether CEO Paolo Ardoino, who is scheduled to speak at the luncheon, adds to the allure, potentially hinting at new ecosystem announcements.
“Momentum is driven by narrative-led flows and whale positioning,” John said. “Paolo Ardoino’s presence could transform the gala into a showcase for the TRUMP token, highlighting its potential for broader adoption and integration within the crypto ecosystem.”
Concentration of Holdings and Past Events
The distribution of TRUMP tokens is highly concentrated, with CoinCarp data showing that over 91% of the supply is held by the top 10 wallets, and 97% by the top 100. At the first TRUMP token holder event last year, Tron founder Justin Sun was the largest token holder.
The first crypto gala dinner, held in May 2025, saw a similar pattern of price movement. The token peaked at $15.59 shortly after the event’s announcement but gradually declined, falling to $8.90 a month later. John predicts that the upcoming luncheon could follow a similar trajectory unless new developments are unveiled during the event.
Regulatory Scrutiny and Political Backlash
The event has also attracted scrutiny from US lawmakers. Democratic senators have introduced bills aimed at limiting political influence and profits from memecoins. The Modern Emoluments and Malfeasance Enforcement (MEME) Act, introduced in February 2025, seeks to prevent federal officials from profiting from memecoins. Similarly, the Stop Presidential Profiteering from Digital Assets Act aims to make it illegal for federal officials to issue, promote, or sell digital assets.
Conclusion
While the Mar-a-Lago luncheon is generating significant buzz and driving the value of the TRUMP token, the long-term sustainability of this momentum remains uncertain. The concentration of holdings and the potential for regulatory pushback add layers of complexity to the coin’s future. However, with influential figures like Paolo Ardoino involved, the event could serve as a pivotal moment for the TRUMP token, potentially paving the way for broader acceptance and integration within the crypto community.
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