Trump memecoin wallets move $29M as sellers dominate market
The TRUMP memecoin team moved about $29 million in tokens, sending 4.915M to a separate address and depositing 7M (≈$17.22M) into custodian BitGo as TRUMP traded near $2.40.
The team behind the TRUMP memecoin moved about $29 million in TRUMP tokens over recent days. Blockchain analytics firm Lookonchain identified the official Trump Team Allocation wallet as the source of the transfers. The wallet sent 4.915 million TRUMP tokens (about $12.09 million) to an address labeled 3S7zwP and later deposited 7 million TRUMP tokens (about $17.22 million) to a BitGo custody address. After those transfers the team wallet held about 1.5 million TRUMP tokens, roughly $3.6 million at prevailing prices. The transfers do not prove a sale occurred.
The transfers took place while TRUMP traded near $2.40. Spot trading metrics registered heavier activity and a negative reading. The Balance of Power indicator was around -0.68, and the Aroon Oscillator has been negative for nearly two weeks, near -28.
TRUMP has not recovered with the wider memecoin market and showed little price reaction to the wallet activity. Market participants continue to monitor on-chain movements and price action for further signals.
Digital asset advocacy group Stand With Crypto announced on May 11 it will officially score recorded votes on the CLARITY Act representing more than 2.9 million U.S. supporters as the Senate Banking Committee prepares for a May 14 markup of the legislation.
Investors are watching for additional transfers from wallets linked to the project, changes in spot market buying, and any regulatory developments that could affect trading dynamics.
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