Memecoin Devs Shift $32.8M in TRUMP Tokens to Binance Amid Sell Speculation
Developers of the TRUMP memecoin transferred 3.5 million tokens (worth $32.8 million) to Binance minutes ago, according to on-chain data. Since April 28, they have moved a total of 12.54 million TRUMP tokens (approximately $150.7 million) in four batches to various exchanges. The project’s circulating supply stands at 200 million of 1 billion tokens, with the remainder locked in developer wallets. Current market value of TRUMP memecoin is about $1.8 billion, down from a peak of over $9 billion. Traders should watch for potential sell pressure as developers offload large token holdings.
Bearish
Large token transfers from developer wallets to an exchange typically signal impending sell-offs. In this case, the movement of $32.8 million worth of TRUMP tokens—part of a broader $150.7 million transfer since April—suggests the development team may be preparing to liquidate holdings. Historically, such sell pressure from insiders often leads to short-term price declines. While long-term effects depend on overall token utility and market demand, traders should anticipate volatility and potential downward pressure on TRUMP token prices.