TRUMP Price Crashes After Team-Linked Wallets Cash Out $3.39M in USDC

The price of TRUMP has dropped by over 8% in the past 24 hours to around $2.27 after team-linked wallets converted millions of dollars' worth of TRUMP into USDC, cutting into a rally that has still left the token up 61% over the past week.

According to on-chain analyst Lookonchain, wallets linked to the Official Trump team collected $3.39 million in USDC over a 10-hour period through liquidity operations on Solana.

The resulting USDC was subsequently withdrawn, and selling pressure has since caught up with TRUMP.

The token's recent rally has left holders sitting on substantial short-term gains, making profit-taking another source of selling.