TRUMP Token Plummets After Reaching Five-Month Peak
The Official Trump (TRUMP) meme coin experienced a 33% price decline following reports that the team behind the asset transferred millions of tokens to a centralized exchange. The downward movement came shortly after the wider cryptocurrency market received a significant push, with Bitcoin gaining $15,000 in less than 48 hours and altcoins following with major gains.
TRUMP had rallied from below $1.50 to top $3.60 at its peak, marking its highest price since March and pushing the asset back into the top 100 cryptocurrencies by market capitalization.
On-Chain Transfers to OKX
According to on-chain data from Arkham Intelligence highlighted by Lookonchain, the TRUMP team transferred 2.62 million coins—valued at approximately $6.2 million—to the OKX exchange. While the transfer does not definitively confirm a sale, the movement of tokens to exchanges following a price pump has historically indicated token offloading by the team.
Following the emergence of the sales reports, the token was rejected at its local peak and slumped to $2.40. Despite the 33% drop from its recent high, the asset's market capitalization remains at around $600 million, keeping it within the top 100 altcoins.
Historical Context and Regulatory Scrutiny
The TRUMP token was launched in January 2025, just 48 hours before Donald Trump was inaugurated as US President. It initially surged to an all-time high of over $73 before undergoing heavy corrections. The token recently hit an all-time low of $1.37 last week before its latest rebound.
Reports of team sales have frequently followed market rebounds, despite the President denying profiting from the token. The situation has previously drawn regulatory attention, with several US Senators urging the Securities and Exchange Commission (SEC) to investigate the meme coin over concerns regarding potential fraud and investor losses.
