Official Trump (TRUMP) Meme Coin: Only 58 Wallets Made Profits of $10 Million Each

Fresh data from Chainalysis shared with CNBC sheds light on a tale of two investor groups that invested in the Official Trump meme coin (TRUMP).

Fresh data from Chainalysis shared with CNBC highlights a tale of two investor groups that invested in the Official Trump (TRUMP) meme coin.

Out of the 2 million blockchain addresses that bought TRUMP’s token, only 58 wallets profited from the investment, amassing $10 million each, the report notes. These whale addresses collectively raked in gains of $1.1 billion.

The batches of coins were bought early when the token officially launched on January 17, 2025. While these big investors secured massive gains from TRUMP, 764,000 retail investors lost money following investment in the meme coin. Notably, this set of traders paid more for the token than its current value.

TRUMP launched on the Solana blockchain less than three days before Donald Trump’s inauguration on January 20. It hit the market following a partnership between Fight Fight Fight LLC and CIC Digital, an affiliate of the Trump Organization. To date, both companies control most of TRUMP’s 1 billion supply.

Since its launch, the token has seen sharp price swings, leading to uneven returns for investors. Days after its launch, TRUMP reached an all-time high of $75.35. So far, it has plummeted 85.65% from its ATH to $10.91, where it currently trades.

Upcoming Black-Tie Dinner Ignites Interest in TRUMP

While it appeared investors had dumped the Trump meme coin, a recent announcement from the project saw the token attract interest in late April.

On April 23, the project promised the 220 largest TRUMP holders a seat at a dinner with the U.S. President. This event will hold on May 22, 2025, at Trump’s National Golf Club in Washington, D.C.

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In addition, this event will also have a reception for the top 25 holders of TRUMP. The president will also treat these investors to a private White House tour.

Expectedly, the announcement pushed the token’s valuation to $2.7 billion, with about 54,000 wallets purchasing Official Trump since the rally. Additionally, at least 100,000 wallets have acquired TRUMP since April 15. However, the Trump-themed meme coin’s valuation has slumped since its recent surge to $2.18 billion.

US Lawmakers Investigating TRUMP Meme Coin for Conflict of Interest

Meanwhile, Chainalysis says U.S. lawmakers are investigating Trump’s affiliated crypto projects, including Official Trump and World Liberty Financial, to ascertain whether they constitute a direct conflict of interest with the president.

The Senate’s Permanent Subcommittee on Investigations is probing the token’s ownership and revenue structures for more insights.

According to the report, the probe follows Trump’s open promotion of the meme coin and his paid appearances at events organized by the token’s developers.

Factors like the upcoming dinner featuring the largest token holders and promotional posts from Trump are fueling the probe.