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

The token price of TRUMP has fallen 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. This move has impacted the token's recent rally, which had left it up 61% over the past week.

According to on-chain analyst Lookonchain, the Official Trump team collected 3.39 million USDC through liquidity operations on Solana over a 10-hour period. Instead of selling TRUMP on the market, the wallets supplied the tokens into liquidity positions that converted them into USDC as buyers traded through specified price ranges.

The resulting USDC was subsequently withdrawn by the team-linked wallets, contributing to the sell-off in TRUMP's price. Despite this decline, TRUMP remains up around 61% over seven days and nearly 52% over two weeks.