Donald Trump and his team carried out major sales of the TRUMP memecoin!
Allegations of sales of the $TRUMP token, reportedly linked to U.S. President Donald Trump, have increased downward pressure on the market. According to blockchain analysis, significant token movements were observed from addresses believed to belong to Trump’s team.
According to the data, Trump’s team sold a total of over $16.06 million worth of $TRUMP tokens. Analysis shows that over the past two hours, 5.48 million $TRUMP tokens were deposited to OKX from a deposit address associated with BitGo. This amounts to approximately $15 million.
Investigation into the source of funds revealed that these assets were received about two months ago from an address linked to the team, known as “Trump Team Funds Distribution.” It is claimed that at that time, 18.14 million tokens — worth approximately $81.64 million — were transferred from that address to the exchange.
These market developments appear to have put pressure on the price of the $TRUMP token. The token is currently trading at $2.86, having lost 9.4% of its value over the past week. With a market capitalization of around $666.7 million, the token is also showing a downward trend over the past 24 hours.
See also: "Bitcoin has been falling for 6 months: second time in history! Here’s what happened last time"
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