- There is a massive ongoing TRUMP selloff as whale capitulation begins.
- With ties to the Trump family, the token is one of the most scrutinized memecoins.
A sudden move by a wallet linked to the TRUMP token team has shaken the crypto market. Earlier today, 3.5 million TRUMP tokens worth $52.66 million were transferred to centralized exchanges. This enormous transfer has raised fears of a possible sell-off, especially as the token’s political scrutiny grows.
$52 Million Token Transfer Sparks Market Worry
Data from Solana explorer Solscan and blockchain tracker Lookonchain shows that the wallet consecutively sent millions of TRUMP tokens to exchanges. Each transfer happened just minutes apart, showing a clear pattern.
After all the transfers, the wallet was nearly empty. Reportedly, it had just 0.000003 TRUMP tokens left and 1.68 SOL, worth about $289. This event suggests that the wallet was emptied on purpose and may no longer be used to hold TRUMP.
Meanwhile, this is not the first time the wallet has made such massive transfers. Reportedly, it transferred about $20 million worth of TRUMP to exchanges on April 29. Market watchers noticed the move back then, but today’s much larger transfer has raised even more concern.
This latest event has sparked speculation across the crypto community. Some analysts suggest that this move could be part of a planned sell-off or liquidation phase, which might push the price of TRUMP down for a while.
On the other hand, others fear it could be a warning sign that a much more significant sell-off is coming soon. They worry that other wallets might start moving their tokens too, adding more pressure to the market.
The TRUMP token is so tied to politics that even routine transfers often raised an eyebrow. Meanwhile, as covered in our recent post, President Donald Trump disclosed that he has no idea of the current performance of his official memecoin, other than just launching it.
This clarity has, however, not absolved the memecoin from price changes fueled by political twists.
TRUMP Token Price Remains Steady, but Pressure Builds
Even with the large token transfer, the TRUMP token is showing resilience. According to CoinMarketCap data, it is priced at $14.19, up 0.23% in the last 24 hours.
This positive outlook follows a recent report covered by CNF. The study suggested that TRUMP’s significant recovery shows signs of strength after a significant drop. If strong support continues from buyers, it might even return to its all-time high (ATH). However, there is a risk to note. If more tokens are sold suddenly, it could hurt the price and stop the asset from increasing.
In addition to market uncertainty, the Trump token faces political pressure. Democratic senators are asking for an investigation into an upcoming private dinner planned with President Donald Trump. As noted in our earlier post, top token holders are expected to attend this event, fueling a potential 10x rally.
With whale transfers happening, the TRUMP token has always attracted attention, and legislative uncertainty grows.
