Summary
⚈ Top 25 TRUMP holders promised exclusive dinner with Trump, fueling whale activity.
⚈ TRUMP token is volatile but remains up 82% on the week, trading above key support.
A cryptocurrency trader has netted almost $670,000 through a trade involving the Official Trump (TRUMP), amid a rush by the coin’s top holders to secure an exclusive dinner with President Donald Trump.
Details of the trade indicate that the investor began by swapping their entire 1.18 million Fartcoin (FARTCOIN) position, valued at $1.22 million, into 78,671 TRUMP tokens, according to the latest on-chain data retrieved by Finbold from Lookonchain on April 27.
This transaction saw the trader move funds from Jupiter Aggregator Authority 14 to a wallet. The TRUMP token, launched by President Trump, surged in value, resulting in a portfolio worth $1.96 million and a profit of $669,000 in under a day.
Before this transaction, the trader executed five swing trades in Fartcoin over the past few days, each yielding consistent profits.
Increased TRUMP whale transactions
The timing of this financial feat aligns with a recent announcement that the top 25 holders of TRUMP will receive “an ultra-exclusive VIP reception with the president,” along with a special tour, according to the token’s website.
As a result, the meme coin has seen an increase in whale transactions, with some investors seemingly hoping to secure a spot at the dinner table. In contrast, others have capitalized on the resulting price surge.
For instance, as reported by Finbold, another unidentified trader swapped $300,000 into TRUMP in a bid to secure a dinner invitation.
Additionally, Lookonchain data indicated that another unidentified trader, who had previously sold off TRUMP tokens ahead of the dinner news, re-entered the market on April 27. The investor spent $5.2 million in USDC to repurchase 337,560 TRUMP tokens at an average price of $15.39.
TRUMP price analysis
As of press time, TRUMP was showing signs of weakness, correcting from its recent rally triggered by the dinner announcements. The token is currently valued at $14.83, down almost 3% over the past 24 hours. However, on the weekly chart, the coin is up a massive 82%.
Although sentiment around TRUMP remains bullish, the token is experiencing relatively high volatility. Still, the short-term outlook appears positive, with the price trading well above the 50-day simple moving average (SMA) of $10.34.
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