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Trump Memecoin Plunges as Team Transfers $6.2M to OKX

Guavy AI Editorial Team
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MEME TRUMP TRU
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The Trump memecoin (TRUMP) took a sharp hit after its team transferred approximately $6.2 million worth of tokens to crypto exchange OKX, sparking concerns about insider selling.

The token had surged over 80% in the previous 24 hours, briefly reaching $3.60 and its highest level since March, before plummeting by 33% to around $2.40.

This rally was fueled by unverified rumors that the Trump family was preparing to launch a new cryptocurrency on Robinhood Chain, which Eric Trump dismissed as 'fraudulent'.

The team's transfer of 2.62 million TRUMP tokens to OKX drew scrutiny given their history of similar transfers during previous price pumps.

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