40 Wallets Command 90% of Trump Family Memecoin Empire

Key Takeaways

• 40 whales control 94% of the TRUMP family of memecoins.
• 80% of retail traders hold less than 10% of the total circulation supply.
• The memecoin has made Donald Trump richer by $50 billion just two days after launch.

More than 90% of the Trump Family memecoins are held by just 40 wallets, raising concerns about market dynamics and the concentration of most funds in the hands of a few.

The official memecoin launched by Donald Trump garnered a lot of attention and an equal amount of controversy, from its holdings share to the pump and dump accusations.

80% Retail Investors Hold <10% of Trump Memecoin Supply

According to a new Chainalysis report , although the official TRUMP and the MELAINA memecoins boast 80% retail traders, they only control 10% of the total circulation supply.

The data revealed that of the 1 billion TRUMP tokens minted, 4 wallets received the most funds to hold or provide liquidity to exchanges. One of these wallets received 80% of the minted supply, while the other received 10%, 5.6% and 3%, respectively.

Looking at the wallet holdings across the board, more than one million wallets hold less than $100 worth of TRUMP memecoin, while 280,000 wallets hold TRUMP tokens worth $100 to $1,000. 

The data indicates high retail activity, as 50% of TRUMP and/or MELANIA token holders have never bought a Solana (SOL) altcoin. Additionally, nearly half of buyers created their wallets the day they purchased the tokens.

However, on the flip side, there are currently five wallets with over $100 million worth of the TRUMP family of meme tokens.

High Concentration of Whales a Threat?

Chainalysis data reveal that despite high retail activity and most retail traders making a profit, only 40 whale wallets control 94% of the TRUMP and MELANIA meme token supply.

A high concentration of tokens in the hands of a few raises concerns about a potential pump-and-dump, in which the token price might rise to new highs amid a retail frenzy, but, if whales decide to dump, the small players will suffer most of the losses. 

As previously reported, nearly 80% of the TRUMP token supply is held by Trump-owned entities.

The decision to launch a memecoin just two days before his inauguration as the 47th president didn’t go down well with many.

The memecoin made Trump richer by over $50 billion within two days of launch and is currently his biggest holding. The price of the meme token has since seen a major correction, bringing its holding value to below $30 billion.