Event Fails to Ignite Rally, Price Remains Down 96%
An announcement for a second exclusive event with U.S. President Donald Trump provided only a fleeting lift for the $TRUMP token. The company behind the memecoin confirmed on March 12 that a "gala luncheon" will be held on April 25 at Mar-a-Lago for the top 297 token holders. The top 29 of those will gain access to a special VIP reception. Despite the high-profile association, the market's reaction was muted.
The token's price briefly climbed over 10% to a daily high of $3.08 before immediately falling back. It now trades around $2.98, highlighting a stark collapse in value from its former highs. The current price is down approximately 96% from its all-time peak of over $46 and is a fraction of the roughly $13 average price seen when a similar dinner was announced in April 2025, signaling significantly diminished speculative interest.
Whales Accumulate Ahead of Holder-Based Qualification
Eligibility for the Mar-a-Lago event is designed to reward sustained holding, not short-term purchases. Participants will be ranked on a leaderboard based on a time-weighted average of their $TRUMP token holdings between March 12 and April 10. This structure directly incentivizes accumulating and holding the token throughout the qualification window.
On-chain data indicates that large investors, or whales, have been positioning for this type of event. Since late 2025, wallets holding between 100,000 and 10 million TRUMP tokens have steadily increased their share of the circulating supply. Combined, these large-holder cohorts now control approximately 8.6% of the total token supply, suggesting a calculated strategy to secure access to exclusive events tied to the Trump brand.
Political Scrutiny Looms Over Presidential Crypto Tie-In
The upcoming luncheon mirrors a previous dinner in 2025 that prompted sharp criticism from Democratic lawmakers. That event led to protests and calls for an ethics probe over concerns that President Trump was profiting from an industry he simultaneously oversees through regulatory appointments. Senator Elizabeth Warren labeled the first gala an "orgy of corruption," highlighting the political risks associated with the president's direct involvement in a crypto project.
In an apparent attempt to preempt similar criticism, the event's website, GetTrumpMemes.com, includes a disclaimer stating it "is not political and has nothing to do with any political campaign." The site also explicitly forbids private meetings with the president. However, the direct link between token ownership and access to the U.S. President is likely to attract continued regulatory and political scrutiny.
