According to a Lookonchain post on X, three cryptocurrency investors are aggressively buying TRUMP tokens, investing $7.5 million in the memecoin. The trio secured a total of 539,000 TRUMP in minutes on Binance, ahead of the cryptocurrency dinner.
According to the data, a new wallet withdrew 199,423 TRUMP tokens valued at $2.93 million, while the second whale invested $2 million to acquire 199,423 TRUMP tokens. The third whale, a new wallet, moved 203,229 tokens valued at $2.64 million from Binance.
Whale purchases are occurring amid a 10% increase in the price of TRUMP over the last day. Currently, the memecoin is trading at $14.80 at the time of writing this note, and new whale purchases are expected to drive the rally.
Whales are betting on a rise in token prices as the cryptocurrency dinner approaches. A recent article from Coingape notes that the price of Trump could reach $20 during the star-studded dinner, which Justin Sun will attend.
After the snapshot to confirm attendance, prices suffered a sharp decline as holders began selling their tokens. However, the event is generating new accumulation, with a 128% increase in daily transaction volume.
Before tomorrow's cryptocurrency dinner, speculation grows that the price of TRUMP will maintain its increase. However, investors are confident in a star-studded lineup that will positively impact the price of TRUMP.
Investors are turning to both technical and fundamental factors to predict price action before the dinner. Cryptocurrency trader Kamil Shaheen reveals in an X analysis that a price breakout above $15 will drive prices up to $17.
Recent whale purchases and prominent figures in the crypto sector are generating excitement for the event. Justin Sun, executive at MemeCore, and Kain Warwick, a resident of Australia, will make up the guest list for Trump's cryptocurrency dinner.
However, increasing criticism over the rising number of non-U.S. attendees at the dinner could negatively affect the price. Additionally, profit-taking by investors after the dinner could lead to a significant price correction.
