Crypto
Trump Meme Coin Surges 93%, But Insiders Continue to Drain Market
The TRUMP meme coin has been making headlines in recent days after it surged by approximately 93% between August 13 and August 23, rising from a record low of $1.37 to a local peak of $3.60 before crashing 33% due to insider selling.
According to Nansen blockchain data, nearly 988,905 of the 1.48 million wallets that have purchased TRUMP since its launch in January 2025 are sitting on combined unrealized losses of $3.81 billion, with a median holding period for losing wallets under 72 hours.
The price crash was triggered by team linked wallets transferring 2.62 million TRUMP tokens worth $6.21 million to OKX, demonstrating a familiar pattern of insider selling during rallies.