TRUMP memecoin: team wallets move 4.9M tokens to exchanges, sell pressure
TRUMP memecoin remains under heavy sell pressure after the team allocation wallet moved tokens toward exchange custody. Lookonchain reports the Official TRUMP Team Allocation wallet transferred 4.915M TRUMP (about $12.09M) to wallet 3S7zwP, then deposited 7M TRUMP (about $17.22M) to BitGo; the same wallet has already deposited 7.5M TRUMP over roughly three weeks and still holds ~1.5M TRUMP.
The market backdrop stays bearish. Spot activity has “heated up,” but CryptoQuant’s Spot Taker CVD remains negative, signaling seller dominance. TradingView indicators also point to downside control, with Balance of Power around -0.68 and Aroon Oscillator near -28 for two consecutive weeks.
With TRUMP hovering near $2.4, traders are watching the $2.3 support level. If it fails, the article flags potential continuation toward $2.0, especially if further TRUMP-linked wallets add more exchange inflows.
Bearish
This update is bearish for TRUMP because it adds a plausible near-term supply channel: team-linked wallets moved multiple millions of TRUMP into wallets that then deposited to BitGo exchange custody. Even if the tokens are not immediately sold, the history of similar transfers increases the probability of future exchange dumping.
At the same time, multiple market indicators align with downside: Spot Taker CVD staying negative suggests ongoing sell dominance despite higher spot activity, while TradingView’s Balance of Power and Aroon Oscillator show sustained bearish control. If $2.3 breaks, traders may expect faster momentum to the next lower levels (around $2.0), especially should further exchange inflows appear.