Official Trump (TRUMP) has fallen more than 8% over the past 24 hours to around $2.27 after team-linked wallets converted millions of dollars worth of TRUMP into USDC, cutting into a rally that still leaves the token up roughly 61% over the past week.
According to on-chain analyst Lookonchain, wallets linked to the Official Trump team collected 3.39 million USDC over a 10-hour period through liquidity operations on Solana. Instead of a large market sell order, the wallets supplied TRUMP into liquidity positions that converted tokens into USDC as buyers traded through specified price ranges, with the resulting USDC subsequently withdrawn.
CoinGecko data showed TRUMP trading near $2.27 on Aug. 26, after falling from around $2.46 to an intraday low near $2.16. Bitcoin.com reported that about 646,000 TRUMP were transferred to OKX in two transactions, while another transfer involved 2.62 million tokens worth around $6.2 million at the time. Exchange deposits do not confirm sales, but they add potential supply after TRUMP's rapid rise.
The token remains up about 61% over seven days and nearly 52% over two weeks, making profit-taking another source of pressure. Trading activity has also cooled, and supply concerns persist: Tokenomics.com shows TRUMP's vesting programme continues through December 2027, with 16 of 34 scheduled unlocks remaining. The next unlock on Sept. 18 involves 28.7 million TRUMP, equal to 2.9% of total supply and allocated to insiders.
Technical indicators show short-term pressure but not a confirmed crash. TRUMP holds above the 20-day EMA near $1.86, the 50-day EMA near $1.73, and the 100-day EMA near $1.89, but the 200-day EMA near $2.71 remains key resistance. Support sits around $2.16-$2.20, with a decisive break exposing the psychological $2 level before the daily EMA cluster.
