Trump Token Holders Flock Ahead of Mar-a-Lago Gala
The number of large TRUMP token holders has reached its highest level in five months, driven by accumulation ahead of a private luncheon at President Donald Trump's Mar-a-Lago estate.
According to Santiment, 83 wallets now hold at least 1 million TRUMP tokens, valued at approximately $3.7 million each.
The surge follows the announcement that top holders would be invited to the event on April 25, with the top 29 eligible for a private reception with the president.
Analyst Dominick John notes that this event is functioning as a direct accumulation catalyst due to the opportunity to meet the sitting president, and also mentions Paolo Ardoino's attendance, which could draw additional interest in the token.
Supply concentration remains extreme, with over 91% of TRUMP's total supply held by the top 10 wallets and over 97% concentrated among the top 100.