A crypto wallet that sat dormant for five months woke up Thursday to accumulate more than $7 million worth of TRUMP tokens as the U.S. president-linked memecoin's official team announced a second gala event for top holders — sending the token surging more than 60% from its all-time low.

Onchain data from Arkham Intelligence shows the wallet began buying the tokens from Binance's hot wallet starting at 01:49 UTC on March 13, hours after the gala was announced. The wallet accumulated roughly 2.2 million TRUMP across four transactions: an initial single-token test buy, followed by two purchases of about 1 million tokens each, worth a combined $6.23 million, and a further 200,000-token buy worth $742,000.

The TrumpMeme account on X announced a conference and gala luncheon at Mar-a-Lago on April 25. The event is open to the top 297 TRUMP holders by time-weighted average balance between the announcement date of March 12 and April 10.

TRUMP dropped to a record low near $2.71 earlier Thursday before spiking to $4.50, then pulling back to around $3.90 — still a gain of roughly 44% from the trough. The wallet was up approximately $2.47 million on its position at the time of publication, with total holdings valued at $9.44 million, per Arkham data.

The new event echoes the dinner held at Trump National Golf Club in May 2025, which drew criticism from lawmakers and ethics watchdogs over presidential access as a token-holding incentive. A disclaimer on the new event's website states Donald Trump will appear in a personal capacity with no private meetings.

TRUMP has fallen roughly 96% from its all-time high of around $74, set just before Trump's inauguration in January 2025.