Large holders have accumulated over one million TRUMP tokens each ahead of a high-profile political gala, even as the asset trades 33% below its recent peak. The divergence points to concentrated positioning despite weakening price momentum.
Blockchain data shows a series of large withdrawals from centralized exchanges over recent days. One investor moved 105,754 tokens from Binance, bringing their total holdings to 1.13 million TRUMP, valued near $3.2 million. Additional activity includes an 850,488-token withdrawal from Bybit and another wallet increasing holdings to 368,000 tokens via BitMart.
Whales are accumulating $TRUMP for #Trump's Luncheon.
— Lookonchain (@lookonchain) April 12, 2026
Whale 8DHkza withdrew 850,488 $TRUMP($2.4M) from #Bybit in the past 2 days.
Whale 7EtuAt withdrew another 105,754 $TRUMP($298K) from #Binance 17 hours ago and currently holds 1.13M $TRUMP($3.2M).https://t.co/Qns5mI638Z… pic.twitter.com/VRYmLb6gxJ
Are Event-Driven Memecoin Rallies Losing Momentum?
The accumulation coincides with an April 25 event at Mar-a-Lago, where the top 297 token holders are guaranteed access to a private luncheon featuring President Donald Trump. A smaller group of the top 29 holders will attend a separate reception. The timing overlaps with the White House Correspondents’ Association Dinner, drawing attention to the intersection of political access and token ownership.
Despite the buildup, price action has weakened since the initial announcement in March. TRUMP reached $4.35 following early promotion of the event but has since declined to $2.80. Data from CoinCarp shows that while the token has more than 642,000 holders, the top 10 wallets control 91% of total supply, indicating high concentration risk.
The pattern mirrors a similar event cycle in May 2025, when the token peaked at $15.59 ahead of a gala before falling to $8.90 shortly after. Critics, including Democratic lawmakers, have raised concerns about potential conflicts of interest and proposed legislation aimed at limiting financial gains tied to politically affiliated tokens. Does concentrated ownership amplify volatility around these event-driven catalysts?
Market participants are now focused on whether demand from large holders can offset broader selling pressure. The next catalyst will be the April 25 event itself and whether post-event liquidity triggers a repeat of prior price retracements.
