Leading crypto investors are taking bold steps towards the TRUMP meme coin, driven by the prospect of lunch with U.S. President Donald Trump.
On April 26, blockchain researcher EmberCN pointed out significant whale activity around the TRUMP token.
Whale activity is increasing as TRUMP token holders seek invitations to the presidential dinner.
EmberCN reported that a large investor initially made $732,000 in early profits but decided to stay in the game instead of withdrawing funds.
The whale reinvested profits along with additional funds. They purchased 427,000 TRUMP tokens for approximately $5.73 million in USDC, paying an average of $13.40 per token.
A total of $5 million was withdrawn directly from Binance, while the rest came from previous trading profits. The increase in activity has brought significant benefits to Trump and his team. According to blockchain analysis platform Chainalysis, trading fees associated with the meme coin have generated nearly $900,000 for Trump-related entities in the last two days.
Observers suggest that the aggressive move by the whale reflects an ambition to become one of the leading TRUMP holders.
Earlier this week, reports emerged that the token team would invite the top 220 wallets to dinner with the President of the United States on May 22.
The top 25 owners will also receive access to a special VIP reception and a private tour.
This buying frenzy fueled speculation that only those investing hundreds of thousands of dollars could receive an invitation.
It is important to note that Cryptorank estimated that to enter the top 220, holders must have TRUMP tokens worth over $395,000.
However, the TRUMP project team quickly cleared up the confusion. They emphasized that participants do not need to invest large sums to qualify.
Instead, they explained that users misinterpreted data from the block explorers.
According to them, only wallets listed on the official leaderboard, which tracks time-weighted holdings, are eligible for the dinner, not those on public explorers.
"People incorrectly cited #220 on the block explorer as a threshold. This is wrong, as it includes things like blocked tokens, exchanges, market makers, and those not participating. Instead, you should only focus on the leaderboard," said the Trump project.
At the time of publication, the wallet "Sun" confidently holds the first place, holding over 1.17 million TRUMP tokens worth approximately $18 million.
Meanwhile, user "Emi" currently holds the 220th place, with 418 time-weighted tokens worth just over $6,000.#TariffPause #crypto #BinanceSquare #Write2Earn #TRUMP $TRUMP