The much-anticipated gala dinner hosted by President Trump at his Virginia Golf Club near Washington, D.C., is set to bring together 220 holders of the TRUMP token. It is widely believed that a significant number of attendees will come from foreign countries, with TRON founder Justin Sun confirmed as the leader of the leaderboard.

BeInCrypto compiled a list of confirmed and tentative attendees and analyzed on-chain reports from research firms Nansen and CryptoQuant to assess the potential long-term impact of the event's conclusion on the price performance of TRUMP.

Tomorrow, the top 220 TRUMP token holders will gather at Trump’s Virginia Golf Club for an exclusive dinner with the President, a participation opportunity that reportedly cost them millions of dollars each. Among them, 25 participants plan to attend directly after an exclusive tour of the White House.

Although most wallet addresses are pseudonymous, several reports suggest that the majority of attendees are linked to international exchanges that do not cater to U.S. users, indicating they are likely based outside the United States. Other attendees have confirmed their participation through social media posts.

TRON founder Justin Sun secured the top position on the leaderboard by investing approximately $16 million into TRUMP tokens, increasing his total holdings to over 1,430,000. Sun confirmed his attendance via an X post, noting that the dinner will offer a crucial chance to connect with various leaders. Beyond his involvement in TRUMP meme coins, Sun previously invested $75 million in World Liberty Financial, a project where 75% of revenues are directed to Trump-owned entities.

In 2023, the U.S. Securities and Exchange Commission (SEC) accused Sun of market manipulation and offering unregistered securities. Regulators sought multiple injunctions against him that would have largely prohibited him from engaging in crypto-related activities within the United States.

Based in Singapore, the crypto network MemeCore claimed the second position by investing $18.6 million in nearly 1,400,000 worth of TRUMP coins. The network has been active on social media, expressing its support for the Trump presidency. The company, which promotes meme coins and online culture, repeatedly stated its intention to secure the top spot on the leaderboard. It also encouraged individuals to donate their TRUMP tokens to its campaign, offering bonuses to those who participated.

The list goes on. A pseudonymous crypto investigator known as Ogle, who dedicates his efforts to recovering millions of dollars in stolen funds, secured the 22nd spot. He has previously shown support for Trump on social media and joined World Liberty Financial as an advisor in September 2024. According to the leaderboard, Ogle holds over 250,000 TRUMP meme coins, valued at over $3 million. On May 12, the day the contest ended, he confirmed on social media that he was among the top 25 holders.

While most wallet owners remain anonymous, there has been considerable discussion surrounding certain wallet names appearing on the leaderboard. Across social media platforms, users have speculated that one wallet, identified as \"Elon,\" refers to Tesla founder Elon Musk.

In a virtual interview at the Qatar Economic Forum yesterday, Musk mentioned he would be dining in Washington, D.C., with the President later this week. Whether this refers to the gala dinner remains uncertain and has not been confirmed by the Tesla CEO.

Users have also pointed to a wallet named \"MSTR,\" suggesting the owner might be a representative from Bitcoin giant MicroStrategy. However, these claims remain unverified.

Other reports suggest that Australian crypto entrepreneur Kain Warwick may also be among the top TRUMP holders eligible for tomorrow night's dinner. Warwick has previously expressed his desire to meet with Trump in interviews and acknowledged in January that he had purchased a substantial amount of TRUMP shortly after its launch.

\"Wick\" is among the wallet names that made it to the top 220 list. However, Warwick has not publicly claimed his attendance.

Beyond the intrigue surrounding the dinner guests, data indicates that TRUMP's value is consistently responsive to major news events. Since its launch at the start of the year, TRUMP's price movements have largely been driven by events. Until now, the two most significant events propelling the meme coin to new highs have been Trump's presidential inauguration and the announcement of the gala dinner. TRUMP's price also plummeted following controversial announcements related to his trade policies.

Evidence suggests that despite the high volume of speculative trading, the TRUMP meme coin has generally resulted in more losses than profits for those involved. According to data analysis by research firm Nansen, approximately 20 million TRUMP tokens, valued at nearly $280 million, have moved into digital wallets holding at least 10 TRUMP tokens since the announcement. Outflows reached about $109 million, indicating a surge in speculative trading.

However, the data presents a challenging outlook. Despite over 2,600 traders participating, 70% have incurred losses, with total losses since the announcement exceeding $21 million, far outweighing any profits.

With the contest concluded and the dinner approaching, TRUMP's price will remain highly sensitive to the President's future announcements.

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