A large position in the TRUMP meme coin had been prematurely sold by a cryptocurrency investor, who has now re-entered the market by acquiring 337,000 tokens.
On-chain analyst Ember CN reported that the whale re-entered the market using 5.196 million USDC, paying an average price of $15.39 per Official Trump token. The current price is nearly double the investor’s previous selling price.
The investor purchased the tokens after previously deciding to sell 630,000 TRUMP tokens at $8.70 each.The sale occurred just 20 hours before the announcement of a dinner event with former President Trump, which led to a surge in the token’s value.
Ember CN noted, “He missed the explosive surge that followed the dinner plan announcement and re-entered today at $15.39.” The investor initially sold too early, timing the exit poorly and missing out on potential profits of around $3.8 million before the price spiked.
Trump Dinner Announcement Sparks TRUMP Token Surge and Portfolio Rebalancing
The campaign announced that the top 220 TRUMP token holders would receive invitations to a ‘Private, Members-Only Club in Washington, D.C. for Dinner’ with the former president on May 22. This announcement boosted the token’s value, though it also drew scrutiny from Democratic lawmakers.
The official TRUMP leaderboard shows that the largest holder currently owns more than 1.22 million tokens, while the second-place holder possesses approximately 1.19 million tokens.
Meanwhile, other traders actively restructured their portfolios to capitalize on the surge in the TRUMP token’s value. Blockchain analytics platform Lookonchain identified a particularly successful trader who exchanged their entire holding of 1.18 million Fartcoin—worth approximately $1.22 million—for 78,671 TRUMP tokens.
The dinner event announcement drove the value of the TRUMP token up by nearly 90%. However, it still trades about 80% below its all-time high of $73. However, it remains down by approximately 80% from its all-time high of $73.
The promise of direct access to the former president has sparked a competition among holders, who are actively striving to maintain their positions on the leaderboard to secure an invitation.
