It’s only a few days to the exclusive dinner U.S. President Donald Trump plans to have with the top holders of his memecoin. Yet, the Official Trump (TRUMP) memecoin price struggles to register gains without meaningful upside.

Despite that, the top holders who spent nearly $150 million to win a seat at the table seem unperturbed. As of this writing, TRUMP’s price has increased 63% within the last 30 days.

At the same time, TRUMP remains 82% below its all-time high, just before President Trump’s inauguration in January. Here’s a look at how investors react to the upcoming event — and what could be next for TRUMP’s price.

Some Sell, Others Double Down

As of this writing, the TRUMP memecoin team holds 80% of the total supply, or roughly 800 million tokens. This makes it the largest holder by far.

Data from Arkham Intelligence shows that despite generating nearly $100 million in fees, the team hasn’t sold any of its holdings. This restraint suggests a firm, long-term conviction in the memecoin’s relevance and potential.

You’ll Want To See This

However, on-chain data reveals a sense of uncertainty and divided bets when it comes to other top holders.

According to Nansen, the top five TRUMP holders — excluding the memecoin team — haven’t sold any tokens in the past seven days. Some are doubling down.

One address, poppalsnft.sol, who holds 2.46% of the total supply, added 2.91 million TRUMP last week. Another wallet labeled “High Balance” purchased 554,559 tokens.

A third, tagged “TRUMP Whales,” scooped up 535,561 more, signaling quiet accumulation despite uncertainty. This sentiment indicates that this set of holders is bullish on TRUMP’s short- to mid-term price action.

However, it was not the same all around.”Token Millionaire,” the seventh-largest TRUMP holder, sold 92,173 tokens, valued at over $1 million, in the last 24 hours.

Greater Reward Maybe?

Another holder “kiing.sol” offloaded 124,109 tokens during the same period, reducing the balance to 0.83% of the total supply. This recent selling suggests that even those who spent weeks vying for an invitation may be worried about a potential price drop.

Apart from those mentioned above, others also sold and added to their holding. This indicates divided investor sentiment ahead of the anticipated event.

Still, on the risk-to-reward front, TRUMP appears to be holding up. Messari data shows the memecoin’s 30-day Sharpe ratio remains favorable.

Typically, a negative Sharpe ratio signals poor risk-adjusted returns. But as of this writing, TRUMP’s Sharpe ratio stands at 3.75 — suggesting that, despite volatility, holders are positioned to earn more return per unit of risk.

TRUMP Price Analysis

From a technical point of view, the daily chart shows that TRUMP seems to be forming an inverse head-and-shoulders pattern. This is a bullish reversal pattern in technical analysis that appears after a downtrend and indicates that the asset may be preparing to move upward.

As seen below, the TRUMP memecoin price is about to cross above the neckline that connects the peak of the shoulders. Amid this move, the Chaikin Money Flow (CMF) has failed to drop below the zero signal line.

If sustained, TRUMP could hit $17.75 ahead of the dinner on May 22. If more holders accumulate more tokens than the ones selling, this could add upward pressure to the price.

In that case, TRUMP might rise to $23.78. However, if the memecoin experiences more distribution over accumulation, the Trump dinner might become a “sell the news” event, and the value might sink toward $10

Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.

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