TRUMP Token Delays Unlock During Dinner Event

The TRUMP token, a memecoin associated with former U.S. President Donald Trump, has announced a delay in its token unlock schedule during its ongoing high-profile dinner event campaign. Meanwhile, on-chain data reveals that the top 10 whale holders, eligible for exclusive event perks, may currently face unrealized losses totaling $1.26 million, with the largest holder potentially linked to market-making firm Wintermute.

TRUMP has confirmed that no tokens will be unlocked during the ongoing dinner event ranking period. The initial batch unlock, along with the subsequent three-month release schedule, has been deferred by an additional 90 days, according to an official statement.

The dinner event invites the top 220 TRUMP token holders, with the top 25 gaining access to an exclusive pre-dinner reception and a private meal with Trump. The event has spurred significant buying activity, with a 70% price surge of TRUMP on April 23. Shortly after the announcement of “TRUMP Dinner”, a whale acquired 278,196 TRUMP tokens, according to BlockchainReporter.

On-chain analyst @ai_9684xtpa has provided an analysis of the top 10 VIP whales invited to the TRUMP dinner. As of April 24, these holders collectively own 1.65 million TRUMP tokens, valued at approximately $20.49 million. However, despite their significant holdings, @ai_9684xtpa estimates that these whales are facing combined unrealized losses of $1.26 million, though exact cost bases remain unavailable.

Data indicates that only two of the top 10 whales used early accumulation addresses. The remaining eight appear to have acquired their tokens after the dinner event was announced, either withdrawing from exchanges or building positions on-chain. The top holder, linked to an HTX cold wallet under the username “Sun,” is believed to be Justin Sun, a prominent crypto figure and TRON founder. The second-largest holder with username “CASE” remains unclear but is suspected to be tied to Wintermute, a major crypto market maker. Memecore, a company involved in memecoin projects, has claimed ownership of the third-ranked address. Additionally, institutions like MicroStrategy (MSTR) are rumored to be among the top 10, though this has not been confirmed.

TRUMP, a memecoin inspired by Donald Trump, has a maximum supply of 1 billion tokens. It has been highly volatile since its inception, as shown by the unrealized losses among top holders. The token’s recent rally appears directly tied to Trump’s dinner offer, which has been perceived as a signal of access to political influence. On April 18, TRUMP conducted its first token unlock, releasing 40 million tokens, followed by smaller-scale unlocks in the subsequent days. The delayed token unlock may help stabilize TRUMP’s price as the dinner event approaches, but the financial position of its top holders underscores the risks of speculative investments. With the top 25 holders set to attend the exclusive pre-dinner reception, the event could further influence market dynamics.

Source: GetTrumpMemes