TRUMP Coin Millionaire Whales Reach 5-Month High: Gala Dinner Expectations Drive Price Volatility, Key Resistance Levels Approaching

Gate News reports that on March 17, as the TRUMP Coin offline dinner event approaches, market funds are clearly concentrating among large holders, driving prices and on-chain data to strengthen simultaneously. Data shows that the number of wallets holding at least 1 million TRUMP Coins has risen to 83, reaching a new high in over five months, reflecting that large-scale capital is rebalancing.

On-chain analysis platform Santiment noted that since mid-last week, the token’s price has increased by about 36%. Meanwhile, the number of whale addresses continues to grow, indicating that the rise is not driven by individual retail investors alone but involves significant institutional participation. Arkham Intelligence disclosed that an address named “X” purchased approximately $6.7 million worth of TRUMP tokens after the dinner news was announced, currently with an unrealized profit of about $2.12 million. Whether this position will be realized or used to secure dinner access has become a market focus.

It is reported that this event will invite top holders to dine with Trump, marking the second exclusive gathering for high-net-worth holders organized by the project. Similar mechanisms have previously boosted short-term token demand but also raised concerns among some U.S. politicians about potential conflicts of interest.

However, fund sentiment is also divided. On-chain monitoring platform Lookonchain showed that a long-term holder recently sold over 210,000 TRUMP tokens at about $847,000, ultimately incurring a loss of approximately $1.29 million, indicating some funds are exiting amid volatility.

In terms of price, TRUMP Coin previously surged from around $3 to nearly $4.40, then entered a consolidation phase, currently fluctuating around $3.90. Short-term support is concentrated between $3.80 and $3.85, while resistance above is mainly at $4.10 to $4.20.

Analyst Javon Marks believes that if the price breaks through the current range effectively, upside could extend to $5.45 or higher; but if it falls below key support, it may retest the $3.60 level. The current trend shows that event-driven factors and capital structure are jointly influencing the price rhythm, and short-term volatility is likely to remain elevated.