The Solana-based Official Trump TRUMP token faces inspection after its development team sent substantial TRUMP tokens to centralized exchanges.
Recent wallet movements of 1.34 million TRUMP tokens toward centralized exchanges worry investors due to the ongoing strong market trends. The total worth of the transferred tokens was $19.58 million.
Team wallet activity raises concerns
The Official Trump (TRUMP) token has moved major token amounts towards the three major exchanges Binance, OKX, and Bybit within the last 24 hours. The exchanges Binance together with Bybit and OKX currently lead in TRUMP trading activity. The withdrawals from this flagged wallet drained all its assets until it held only a small amount of residual funds. Trading volumes reached $1.5 billion during this period as the transactions happened. TRUMP experienced a price decline worth 6.9% while dropping to $14.04 from its peak of $15.59.
Unlock schedule puts more selling pressure on TRUMP
Market data indicates that token movements emerged right after the first token unlock took place. Team members can acquire tokens through unlocks because of which analysts suspect they sell into the market boom conditions. The TRUMP unlocking process will take place throughout this week because the team plans to make $6.89 million tokens accessible each day. The sustained token release may result in additional price declines when combined with potential weakening customer interest.
Whales accumulate as retail activity grows
Predictions of sell-offs keep occurring yet substantial investors increase their TRUMP shares purchases. The major investor now holds 114,000 TRUMP shares after adding more shares from their prior possession of 109,000 shares. Modern whales actively fight each other to solidify their positions among the leaders of the holders’ ranking list. TRUMP remains the most active token within decentralized exchange markets above both POPCAT and FARTCOIN.
User engagement demonstrates itself strongly on centralized and decentralized platforms by Crypto.com and Robinhood-linked wallets which show their activities through on-chain data analysis.The existing level of open interest in TRUMP has increased to exceed $480 million while the baseline stood at $280 million during the previous week. Investors show a bias toward buying the token by opening long positions because they maintain optimistic expectations regarding its price movements. The Trump Dinner promotion along with the rising interest in the new USD1 stablecoin create momentum which drives TRUMP market prices higher.