Whales Acquire $7 Million TRUMP Hours To Crypto Dinner: Will The Rally Continue?
Highlights
- A group of whales has purchased 539,000 TRUMP tokens.
- The purchase comes amid a 10% spike in TRUMP price.
- Investors have their eyes peeled on the charts as the Trump crypto dinner inches closer.
Ahead of tomorrow’s Trump crypto dinner, a group of whales is increasing the size of their bets on the memecoin. On-chain data reveals aggressive buying by a trio of whales as TRUMP price gains an impressive 10% to trade at $14.80.
Whales Scoop 539,000 TRUMP Before Crypto Dinner
According to an X post by Lookonchain, three cryptocurrency investors are aggressively buying TRUMP tokens, splurging $7.5 million to acquire the memecoin. The trio scooped a combined 539,000 TRUMP within minutes on Binance ahead of the crypto dinner event.
Per the data, a new wallet withdrew 199,423 TRUMP valued at $2.93M while the second whale splurged $2M to acquire 199,423 TRUMP. The third whale, a new wallet, moved 203,229 tokens valued at $2.64M from Binance.
The whale purchases come amid a 10% spike in TRUMP price over the last day. At the moment, the memecoin is exchanging hands at $14.80 at press time, with fresh whale purchases expected to support the rally.
The whales are betting on an increase in token prices as the crypto dinner inches closer. A recent Coingape article notes that TRUMP price can reach $20 during the star-studded dinner with Justin Sun poised to attend the event.
After the snapshot to confirm attendees, prices took a major hit as holders began offloading their tokens. However, the incoming event is triggering fresh accumulation, with daily transaction volumes up by 128%.
Will Rally Sustain After The Dinner Event
Ahead of tomorrow’s crypto dinner, there is growing speculation that the TRUMP price will sustain the rally. However, investors are hinging their belief on a star-studded lineup that will positively impact the TRUMP price.
Investors are turning to both technicals and fundamentals to figure out the price action ahead of the dinner. Cryptocurrency trader Kamil Shaheen reveals in an X analysis that a price break beyond $15 will power prices to reach $17.
Fresh whale purchases and prominent crypto personalities are drumming up hype for the event. Justin Sun, a MemeCore executive and Australia-based Kain Warwick will make up the Trump crypto dinner guest list.
However, rising criticisms over a spike in the number of non-US dinner attendees may adversely affect the price. Furthermore, profit taking by investors after the dinner may trigger a steep correction in prices.
- BNB Rally to $1,300 Will Continue As Binance Hits Crucial Q3 Milestone, Says Expert
- Trump’s Real Estate Moves On-Chain as Hut8 Adds WLFI Tokens to Boost Treasury
- ASTER Token Defies Crypto Market Consolidation With 14% Upside, Expert See Next Stop at $3
- MetaMask Gears Up for Major MASK Token Airdrop With Reward Points System Launch
- Coinbase Joins Ripple and Circle In Applying For National Banking License
- BNB Coin Price Hits ATH as Derivatives Activity Soars—Is $1,520 the Next Stop?
- Aster Price Eyes $3 After Channel Breakout as Open Interest Surges to $1.37B
- Will XRP Price Hit $5 if the SEC Approves ETFs This Month?
- Bitcoin Price Hits $120K Ahead of Q4 — Can Citigroup’s Forecast Hold Up?
- Pi Network Price at Risk of Another Crash as Mysterious Whale Stops Buying
- Solana Price Eyes $360 After Bullish Retest As VisionSys AI Deploys $2B Treasury Strategy
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
