TRUMP memecoin jumps 50% overnight after gala promotion as whales scoop up tokens
The Block
The TRUMP memecoin surged 50% following a promotion offering access to a gala event with Donald Trump, driven by large investor purchases.Summary
The TRUMP memecoin experienced a significant price increase, jumping as much as 59% on Friday, after the announcement of a second gala event at Mar-a-Lago for top token holders. This rally follows a period of decline, with the token hitting an all-time low recently. Onchain data indicates that large investors, or 'whales,' are accumulating the token, with one trader withdrawing approximately $6.9 million worth of TRUMP. The event mirrors a similar gala held last year, which drew criticism for potentially allowing investors to buy access to the former president. Despite the recent gains, the token remains significantly down from its peak in early 2025.
(Source：The Block)