A cryptocurrency investor who sold a large quantity of their TRUMP meme coin prematurely has re-entered the market by purchasing 337,000 tokens.
The current price is nearly double that of their prior sale. On-chain analyst Ember CN reported that the investor spent 5.196 million USDC to re-engage in the market, acquiring the tokens at an average price of $15.39 per TRUMP (TRUMP) token.
This latest acquisition follows the investor’s earlier choice to sell off 630,000 TRUMP tokens at $8.70 each, just 20 hours prior to an announcement regarding a dinner event with former President Trump, which initiated a surge in the token’s value.
“He missed the major spike after the dinner was announced. Today, he returned at $15.39,” remarked Ember CN. The timing of this investor’s initial sale proved unfortunate, resulting in a missed profit opportunity of approximately $3.8 million by exiting before the price escalated.
The dinner announcement revealed that the top 220 TRUMP token holders would receive an invitation for a “Private, Members-Only Club in Washington, D.C. for Dinner” with the former president on May 22. This news has positively impacted the token’s value but has also attracted criticism from Democratic lawmakers.
According to the official TRUMP leaderboard, the largest holder currently possesses over 1.22 million tokens, while the second-largest holds around 1.19 million.
Meanwhile, other traders have been actively reshaping their portfolios to capitalize on the TRUMP token’s growth. The blockchain analytics platform Lookonchain identified a particularly successful trader who swapped their entire holdings of 1.18 million Fartcoin (valued at approximately $1.22 million) for 78,671 TRUMP tokens.
The value of the TRUMP token surged by nearly 90% after the dinner event announcement. However, it remains down by roughly 80% compared to its all-time high of $73.
The appeal of direct access to the former president has sparked competition among holders looking to maintain their positions on the leaderboard to secure an invitation.
