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Whale activity around the Official Trump (TRUMP) meme coin has intensified ahead of a high-profile crypto conference and gala luncheon scheduled for April 25 at Donald Trump’s Mar-a-Lago resort. On-chain data points to significant buying pressure from large wallet holders, even as the token’s price has struggled in recent weeks.
Blockchain tracker Lookonchain reported two notable wallet moves. One wallet withdrew more than 850,000 TRUMP tokens—worth approximately $2.4 million—from Bybit within a two-day window. A second wallet pulled over 105,000 TRUMP tokens from Binance, bringing its total holdings to 1.13 million tokens valued at around $3.2 million.
Analytics platform Santiment described broader redistribution patterns following the event announcement on March 12. The largest wallet tier, holding between 10 million and 100 million tokens, initially reduced its position but reversed course by mid-April, rising back to 310.1 trillion tokens.
Mid-tier wallets holding between 1 million and 10 million tokens added 5.56 trillion tokens over the same period. Wallets in the 100,000 to 1 million range increased holdings by 5%, reaching 101.46 trillion tokens.
Part of the accumulation incentive appears to be event access. The top 297 leaderboard holders reportedly earn seats at the conference, while the 29 largest wallets are said to receive VIP access to a private reception with the former president.
After the March announcement, the TRUMP token surged more than 50%, briefly reaching $4.49. However, the gains have since been largely erased. As of April 12, it was trading near $2.80, down over 41% year-to-date and more than 11% over the past month.
With the event approaching, the divergence between rising whale accumulation and declining prices indicates a potentially volatile period for TRUMP investors.
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