A wallet that’s been inactive for five months recently purchased TRUMP tokens worth $1.5 million. The presidential meme coin has seen a surge in trader activity after the top holders’ exclusive dinner announcement.
According to on-chain data from Lookonchain, on April 24 the wallet withdrew 1.5 million USDC (USDC) from Binance. The wallet holder then used the newly acquired USDC to purchase 123,228 tokens, each valued at a price of around $12.17.
The on-chain analysis platform speculated that the trader could be looking to accumulate more presidential meme coins in order to “secure a seat at the $TRUMP dinner.”
Since the developer team behind the project announced that they would be holding an exclusive dinner event with the President of the U.S. for top token holders, the price of the meme coin skyrocketed as high as 70% as more traders flocked to get ahold of the token for an audience with the president.
The official TRUMP (TRUMP) meme coin is currently valued at $12.46 per token, retracting slightly from its previous high of $16.03 on the day the project team made the announcement. At press time, the token has gone up more than 32% in the past 24 hours of trading.
So far, the token’s daily trading volume has soared nearly 500% after the dinner announcement, reaching as high as $5.4 billion in the past 24 hours. This indicates a boost in trader activity thanks to the official announcement.
Just a week prior, on April 16, the developer team behind the official meme coin went under scrutiny after it removed $4.6 million USDC from its liquidity pool. This led traders on X to speculate the team was planning a big sell-off, or that a rug-pull was on the horizon.
Who gets an invite to the exclusive TRUMP dinner?
According to the meme coin’s official website, only the top 220 of $TRUMP coin holders will receive an exclusive invitation to a dinner with President Donald Trump. Traders can try their luck by registering on the site by connecting their wallet.
According to the announcement, the exclusive dinner is set to take place on May 22nd, 2025.
Alongside the exclusive dinner, the project also encouraged traders to hold onto their tokens for a little while longer. The team declared that it will postpone both its initial token unlock and the next three months of daily unlocks by 90 days each.
It is possible that this decision was made in order to reduce short-term selling pressure and keep the token’s price from slipping ahead of the event or afterwards.
