TRUMP Memecoin Team Transfers $17 Million, Token Price Drops 66%

The TRUMP memecoin team has made another large transfer, this time moving 10.84 million tokens worth approximately $16.91 million to custodial addresses Fireblocks.

This is one of three large transactions that have taken place over the past five months, with a total of 48.25 million TRUMP tokens worth $172.4 million being transferred.

The market is closely monitoring these transfers, as previous asset movements by the team resulted in a portion of the tokens arriving at BitGo and then appearing on cryptocurrency exchanges, accompanied by a decrease in the coin's price.

Experts note that during this five-month period, the token's price has dropped by 66%.

Crypto Jargon analyst emphasized that the asset movement scheme remains consistent: first, the tokens leave the team's wallet, arrive at intermediary addresses, then are transferred to BitGo, and eventually a portion of them appears on exchanges. This pattern results in a decline in the price of the TRUMP memecoin.