Dormant wallet buys $7M in TRUMP tokens after gala announcement

A crypto wallet that had been inactive for five months bought more than $7 million worth of TRUMP tokens hours after the TrumpMeme account on X announced a gala and luncheon at Mar-a-Lago for April 25, sending the memecoin up more than 60% from an intraday low.

Onchain data from Arkham Intelligence shows the wallet began buying from Binance's hot wallet at 01:49 UTC on March 13, acquiring roughly 2.2 million TRUMP across four transactions: a single-token test buy, two purchases of about 1 million tokens each worth a combined $6.23 million, and a 200,000-token buy worth $742,000.

TRUMP fell to a record low near $2.71 earlier Thursday before spiking to $4.50 and then settling around $3.90, a rise of about 44% from the trough. The wallet was up approximately $2.47 million on the position, with total holdings valued at $9.44 million per Arkham, while the token remains roughly 96% below its January 2025 peak of about $74.

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