Prime crypto buyers are making daring strikes into the TRUMP meme coin, pushed by the prospect of eating with US President Donald Trump.
On April 26, blockchain researcher EmberCN flagged notable whale exercise across the TRUMP token.
Whale Exercise Surges as TRUMP Token Holders Goal for Presidential Dinner Invitations
EmberCN reported {that a} main investor initially gained $732,000 in early earnings however selected to remain within the sport fairly than money out.
The whale reinvested the earnings together with further funds. They bought 427,000 TRUMP tokens for round $5.73 million in USDC, paying a median of $13.40 per token.
Of the overall quantity, $5 million was withdrawn straight from Binance, whereas the remainder got here from earlier buying and selling positive aspects.
The surge in exercise has paid off handsomely for Trump and his group. In keeping with blockchain evaluation platform Chainalysis, buying and selling charges tied to the meme coin have generated almost $900,000 for Trump’s associates over the previous two days.
Observers recommend the whale’s aggressive transfer displays an ambition to rank among the many prime TRUMP holders.
Earlier within the week, experiences emerged that the token’s group will invite the highest 220 wallets to a Might 22 dinner with the US President.
The highest 25 holders may even obtain entry to a particular VIP reception and personal tour.
The shopping for frenzy fueled hypothesis that solely these investing a whole bunch of 1000’s of {dollars} might safe an invitation.
Notably, Cryptorank had estimated that to rank throughout the prime 220, holders should possess TRUMP tokens value over $395,000.
Nevertheless, the TRUMP undertaking group moved swiftly to clear up the confusion. They emphasised that individuals should not required to speculate massive sums to qualify.
As an alternative, they defined that customers had misinterpreted the information from blockchain explorers.
In keeping with them, solely wallets listed on the official leaderboard, which tracks time-weighted holdings, are eligible for the dinner, not these on public explorers.
“Individuals have been incorrectly quoting #220 on the block explorer because the cutoff. That’s mistaken as a result of it consists of issues like locked tokens, exchanges, market makers, and people who should not taking part. As an alternative, it is best to solely be going off the leaderboard,” the Trump undertaking acknowledged.
As of press time, the “Solar” pockets sits comfortably in first place, holding over 1.17 million TRUMP tokens valued at roughly $18 million.
In the meantime, the consumer “Emi” presently holds the 220th spot, with 418 time-weighted tokens value simply over $6,000.
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