NewsletterWhales 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.
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