Despite the political controversy surrounding the Trump Gala Dinner, the cryptocurrency market has witnessed a significant accumulation wave of the meme coin TRUMP Token associated with the Trump family.
These activities reflect the strong interest of major investors, often called "whales," highlighting the growth potential of the TRUMP Token in a highly volatile market.
Whales Accumulating to Secure VIP Tickets
The accumulation trend of TRUMP Token gained momentum as large investors executed notable trades consistently.
On April 28, 2025, a whale withdrew 190,987 TRUMP Tokens from Binance, increasing their total holdings to 1,389,000 tokens, equivalent to $20.59 million. Known by the nickname "MeCo," this investor currently ranks second among top holders competing to attend the Trump Gala Dinner, following Justin Sun.
On the same day, another whale strengthened their holdings by adding 92,460 TRUMP Tokens, ranking among the top 125 holders.
This guy who sold $TRUMP before the $TRUMP dinner news spent 5.2M $USDC to buy back 337,560 $TRUMP at $15.39 8 hours ago.https://t.co/RyrGPkHR3c pic.twitter.com/povbiGsbyW
— Lookonchain (@lookonchain) April 27, 2025
Previously, on April 27, a savvy trader exchanged 1.18 million Fartcoins for 78,671 TRUMP Tokens. Moving to April 26, a prominent whale reinvested initial profits and additional funds to purchase TRUMP Tokens worth $5.73 million.
On the same day, a whale withdrew 413,530 TRUMP Tokens from a CEX platform.
These trades clearly show that major investors are accumulating TRUMP Tokens to participate in the Trump Gala Dinner, an exclusive event reserved only for top token holders.
Challenge Begins
Despite these activities, TRUMP showed positive market performance signals. According to BeInCrypto data, TRUMP's price surged 84% over the past seven days, outpacing many other cryptocurrencies.
TRUMP's spot trading volume on Binance also surged 202% in nine days. However, despite these positive indicators, the Trump Gala Dinner has sparked intense political controversy.
On April 25, 2025, U.S. Senators Adam Schiff and Elizabeth Warren sent a letter to the U.S. Government Ethics Office. They requested an investigation, believing the event violated federal ethics regulations.
The senators expressed concerns that the event could become a "pay to play" scheme, where investors pay for political access, with Trump promising a private dinner for top holders on May 22, 2025.
Following this announcement, the value of the TRUMP Token surged by over $100 million, raising suspicions that the Trump family might be leveraging their political influence for personal gain.
Schiff and Warren also questioned whether Trump or his family received guidance on profiting from digital assets during their tenure and if safeguards exist to prevent purchasing political access through TRUMP Token investments.
First, Donald Trump launches a memecoin, netting himself billions.
— Adam Schiff (@SenAdamSchiff) April 23, 2025
Next, his family gets in on the scheme.
Now his billionaire buddies are getting even richer too.
The most brazen corruption imaginable. https://t.co/2P4FTHNNR8
This controversy has raised broader questions about the intersection of cryptocurrency and politics, especially as more public figures engage with the cryptocurrency market.
Additionally, as previously reported by BeInCrypto, there are speculations that Trump will use the Trump Gala Dinner to promote a new Non-Fungible Token project.
In summary, the accumulation wave of TRUMP Tokens to attend the Trump Gala Dinner demonstrates a strong financial appeal due to the meme coin's social and political significance. Positive price and trading volume data reinforce investor confidence in TRUMP's growth potential.
However, the political controversy surrounding the event also introduces substantial risks. Investors must remain vigilant and closely monitor market developments and related legal factors.
