The team behind the TRUMP meme coin has transferred over $52 million worth of tokens—3.5 million TRUMP—to several centralized exchanges, including Binance (1.5 million tokens), OKX (1 million tokens), Bybit (500,000 tokens), and Coinbase (500,000 tokens). This large movement was publicly disclosed by on-chain analytics firm Lookonchain and has prompted significant debate regarding transparency and insider motives.
The TRUMP team claims these transfers are for 'liquidity operations' aimed at strengthening market access, asserting that the tokens came from a predesignated liquidity wallet and that all newly unlocked tokens have been relocked for 90 days. Despite these reassurances, scrutiny persists due to insider profits—reportedly, the project has earned over $320 million in trading fees, and a handful of wallets have netted over $1.1 billion in profits, while around 760,000 holders are at a loss. This vast disparity, as well as the movement of such a large volume to exchanges, raises concerns about potential increased selling pressure and the token’s long-term viability.
Initially, the TRUMP token peaked at $77 before plunging 86% to around $14, with its association with Donald Trump providing both attention and controversy. The incident underscores the importance of monitoring whale activity and maintaining strong risk management, especially in highly speculative meme coins.