On the morning of June 4, 2025, a wallet believed to be linked to the development team of the memecoin $TRUMP transferred 4.17 million $TRUMP tokens, equivalent to $46.97 million, to major exchanges such as Binance, OKX, Coinbase, and Bybit, according to data from Lookonchain. This marks the third large token transfer from this wallet since April 2025, sparking controversy within the crypto community.
According to price charts, the price of $TRUMP tokens has plummeted over 20%, now standing at $11.26 in the past 15 days, following the VIP dinner event for $TRUMP holders.
Previously, this wallet also transferred 1.34 million $TRUMP tokens (valued at $19.58 million) on April 29, 2025, and 3.5 million tokens (equivalent to $52.66 million) on May 10, 2025, to exchanges, as per Lookonchain’s information. These consecutive moves have raised suspicions about the project’s team possibly dumping tokens.
Related: Trump Media Raises $2.5 Billion to Invest in Bitcoin
Some analysts on platform X speculate that the $TRUMP team may be converting profits into more stable assets like Bitcoin or Ethereum to mitigate risks as the token price continues to decline.
A user named Radoin Elfa commented:
They can’t pull the rug immediately because the token price would crash completely. Instead, they are gradually selling to transfer profits into Bitcoin or Ethereum.
The ongoing token transfers to exchanges for liquidation from the wallet associated with $TRUMP are causing concern among investors about the future of this memecoin. The current situation indicates that the team behind the project is facing significant criticism and challenges from the community.
