A crypto wallet that had been dormant for five months woke up on Thursday to accumulate more than $7 million worth of TRUMP tokens as the official memecoin team, linked to the US president, announced a second gala for major holders – sending the token soaring more than 60% from its all-time low.
Onchain data from Arkham Intelligence shows that the wallet began purchasing tokens from Binance’s hot wallet starting at 01:49 UTC on March 13, a few hours after the gala announcement. The wallet accumulated approximately 2.2 million TRUMP over four transactions: an initial test purchase of a single token, followed by two purchases of approximately 1 million tokens each, worth a combined $6.23 million, and another purchase of 200,000 tokens worth $742,000.
The TrumpMeme account on X announced a conference and gala luncheon at Mar-a-Lago on April 25. The event is open to the top 297 TRUMP holders based on time-weighted average balance between the March 12 announcement date and April 10.
TRUMP fell to a record low near $2.71 earlier Thursday before climbing to $4.50 and then back to around $3.90, still a gain of about 44% from the low. The portfolio was up approximately $2.47 million from its position at press time, with total holdings valued at $9.44 million, according to Arkham data.
The new event echoes the dinner held at Trump National Golf Club in May 2025, which drew criticism from lawmakers and ethics watchdogs over presidential access as an incentive for token holding. A disclaimer on the new event’s website says Donald Trump will appear in his personal capacity, with no private meetings.
TRUMP has fallen about 96% from its all-time high of around $74, set just before Trump’s inauguration in January 2025.
