Trump’s meme coin TRUMP has drawn heightened investor attention as wallets holding at least one million TRUMP tokens rose to a five-month high. Santiment data show that 83 wallets hold more than 1,000,000 TRUMP tokens, indicating a concentration of supply among a small group of holders. According to the report, the Trump team plans a lunch at Mar-a-Lago on March 25, inviting the top 297 holders, with 29 of them potentially meeting the former president after background checks. The TRUMP token surged more than 50% to $4.35 following the announcement, and was trading around $3.71 at the time of writing.
Data also show that the top ten TRUMP wallets control more than 91% of the supply, while the top 100 wallets hold about 97%. Last year’s inaugural TRUMP token gala saw Justin Sun as the largest holder, and Paolo Ardoino is slated to speak at this year’s event. After last year’s gala, TRUMP briefly rose to as high as $15.59 before easing, with analysts cautioning that a similar price trajectory could repeat. Democrats are proposing legislation to restrict federal officials from profiting from meme coins, though the bill remains in committee.
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