Trump Team Rakes In $3.39 Million from Solana Liquidity Pool Manipulation

The team behind Donald Trump's TRUMP memecoin has generated $3.39 million in USDC over a 10-hour period by manipulating Solana liquidity pools, according to Lookonchain.

This move is not an outright dump of tokens but rather a strategic use of liquidity management, which the team had employed previously in April last year when they pulled $4.6 million from a pool just ahead of a token unlock.

TRUMP's price has risen 75% over the past week to $2.46, with a market capitalization of $629.5 million and $864.3 million in 24-hour trading volume.

The Trump team's recent sales are part of a larger trend of insider selling in TRUMP, including two transactions on August 23 that moved 646,000 tokens worth $15.5 million and another transfer that saw 2.62 million tokens worth $6.2 million being moved.