Prominent cryptocurrency investors are showing a keen interest in the TRUMP meme coin, driven by the opportunity to potentially dine with US President Donald Trump. Recent data from blockchain researcher EmberCN highlighted increased involvement from big players in the TRUMP token market.
One significant investor made an initial profit of $732,000 but decided to reinvest rather than cash out. This investor later purchased 427,000 TRUMP tokens for $5.73 million in USDC, averaging $13.40 per token. The investor withdrew $5 million from Binance and used the rest from earlier trading profits for the purchase.
This surge in activity has resulted in substantial profits for Trump and his team, with trading fees linked to the meme coin amounting to nearly $900,000 over two days, according to Chainalysis. The investor's bold actions seem to indicate a desire to rank among the top TRUMP token holders.
Recent reports suggested that the TRUMP token project team would invite the top 220 wallet holders to a dinner with the US President on May 22. The top 25 holders would also receive special privileges like attending a VIP reception and private tour.
Due to the buying frenzy, there were speculations that only those investing significant amounts could secure an invitation. However, clarification from the TRUMP project team stated that holders did not need to invest large sums to be eligible. Only wallets listed on the official leaderboard, which tracks time-weighted holdings, would qualify for the dinner, not those displayed on public explorers. The project emphasized that the cutoff for the dinner invite should be based on the leaderboard rankings, rather than the block explorer data.
At present, the "Sun" wallet holds the top position with over 1.17 million TRUMP tokens valued around $18 million, while the wallet named "Emi" occupies the 220th spot with 418 time-weighted tokens worth slightly over $6,000.