Major cryptocurrency investors are investing heavily in the TRUMP meme token, driven by the chance to dine with former President Donald Trump. A significant investor recently reinvested profits and facilitated a $5.73 million purchase, boosting trading activity significantly. The TRUMP project clarified eligibility for a dinner invitation with the President, correcting misinterpretations about required investment amounts. Currently, the top holders of TRUMP tokens vary widely in value, but opportunities may still exist for smaller investors.
In a surprising turn of events, major crypto investors are diving into the TRUMP meme coin, motivated by the chance to dine with US President Donald Trump. According to blockchain researcher EmberCN, there has been a notable uptick in whale activity surrounding the TRUMP token, with significant investments happening as of April 26.
A standout investor recently turned a $732,000 profit at first but decided not to cash out. Instead, they reinvested these earnings plus more funds, purchasing a staggering 427,000 TRUMP tokens totaling about $5.73 million in USDC. The average price came in at about $13.40 per token, with around $5 million of that amount being transferred straight out from Binance.
The heightened activity has resulted in substantial gains for Trump and his affiliates. Chainalysis, a blockchain analysis platform, reports that trading fees linked to the TRUMP meme coin have raked in nearly $900,000 for Trump’s team just within the last 48 hours. Many believe that this investor’s bold move indicates a desire to become one of the leading holders of TRUMP tokens.
Earlier this week, it was indicated that the token’s team intends to invite the top 220 wallets to a dinner with the President on May 22. Those ranking among the top 25 holders will also get special VIP access and a private tour. This surge in token purchases sparked speculation that only those investing hundreds of thousands could secure an invitation.
Cryptorank suggested that to be among the top 220 holders, one would need over $395,000 in TRUMP tokens. However, the TRUMP project team rushed to clarify the situation, insisting that hefty investments aren’t necessarily required for eligibility.
They highlighted a misunderstanding regarding blockchain explorer data. The only wallets that qualify for the dinner invitation are those listed on their official leaderboard, which tracks time-weighted holdings. The project noted, “People have been incorrectly quoting 220 on the block explorer as the cutoff. That’s wrong because it’s not considering locked tokens, exchanges, and non-participants. The leaderboard is what matters.”
As of now, the “Sun” wallet leads with over 1.17 million TRUMP tokens worth around $18 million, while user “Emi” holds down the 220th position with just 418 time-weighted tokens, valued at just over $6,000.
Stay tuned for more updates on this intriguing crypto phenomenon as developments unfold.
Disclaimer starting now.
