On March 13, the Trump team announced that it would hold an exclusive luncheon at Mar-a-Lago, Florida, on April 25. The invitees will be the top 297 wallet holders with MAGA TRUMP token holdings (MAGA: Make America Great Again).The rules are simple and crude: the more coins you hold, the closer your seat will be; if you rank among the top 29, you will get an additional opportunity to meet Trump personally in person - of course, provided that you pass a background check and are approved by the organizer's "exclusive discretion". As soon as this announcement came out, describing the market's reaction as "enthusiastic" is no longer accurate enough.The price of TRUMP tokens soared by more than 50% in a short period of time, reaching a maximum of $4.35. 297 is not a random number First understand the underlying logic of this activity. To describe the distribution of TRUMP token holdings as "highly concentrated" would be polite.According to CoinCarp, the top 10 holders control over 91% of the supply, and the top 100 holders control over 97%.In other words, there are more than 650,000 holders in this market, but only a few hundred wallet addresses have the final say. And these 297 places are targeted at this group of people. What’s more noteworthy is that the calculation method for admission qualification is not the data at a certain point in time, but the time-weighted average currency holdings.This means that you cannot temporarily buy before the deadline to offset your ranking, and then sell immediately for arbitrage - the design of the rules itself encourages whales to continue to hold, and the longer they hold, the higher the weight. The market reaction was almost immediate.The number of wallets holding more than 1 million TRUMP tokens climbed to 83 after the news was announced, which is the highest value in the past five months. The single increase in holdings of some large wallets has reached six-digit US dollars. This is no ordinary market hype, this is an organized "ticket buying" behavior.It’s just that the face value of this ticket changes at any time.