A wallet suspected to belong to the team behind the TRUMP meme coin has triggered fresh concerns in the crypto community after moving $47 million worth of tokens. According to blockchain intelligence platform Arkham, the wallet withdrew 4.167 million TRUMP tokens from the Squads Vault and transferred them to leading exchange deposit addresses including Binance, OKX, Bybit, and Coinbase. This movement has ignited speculation about a potential sell-off, especially amid already declining market sentiment.
🚨 BREAKING: A suspected team wallet just moved $47M worth of $TRUMP meme coin to exchanges.
— The Crypto Times (@CryptoTimes_io) June 4, 2025
👀 Is a major dump incoming? pic.twitter.com/Nj58gZWLC1
TRUMP, trading at around $11.17 at the time of writing, has dropped nearly 13% over the past week and is down more than 85% from its all-time high. The token, which had gained momentum in May ahead of the Trump Gala Dinner, is now facing renewed skepticism as trading volumes taper off.
Trump Affiliations and Centralized Supply Add to Woes
The TRUMP meme coin has been controversial since its launch, largely due to its ties with Donald Trump-backed entities. Two firms—CIC Digital LLC and Fight Fight Fight LLC—are reportedly linked to the former U.S. President and control about 80% of the token’s total supply. This level of centralization has raised red flags among investors, many of whom are now wary of insider sell-offs following the recent wallet activity.
The coin’s explosive early growth, reaching a staggering $70 billion market cap within 60 hours, once led to congestion on the Solana network. But the hype has cooled significantly, with this latest move by a suspected team wallet reinforcing concerns about market manipulation and token dumping.
Also Read: Trump Family Denies Involvement in ‘Trump Wallet’ as Magic Eden Promotes Launch
Community on Edge Amid Growing Volatility
This isn’t the first time the TRUMP meme coin has seen such dramatic token movements. A similar transaction on May 10 involving 3.5 million TRUMP tokens—then valued at $52.48 million—led to a 35% spike in trading volume and heightened price volatility. With a new $47 million transfer now unfolding, holders fear a repeat scenario that could send the price spiraling further.
As the debate intensifies, all eyes are on the exchanges to monitor whether these funds will hit the open market. For a token already mired in controversy, the latest developments are only deepening investor unease.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
