Official Trump (TRUMP) token crashed 33% to $2.40 after the team moved $6.2M worth of coins to OKX following a peak at $3.60, contradicting earlier claims of no token sales.
Macro & Markets ·
The Official Trump token fell 33% to $2.40 following transfers of 2.62 million coins valued at roughly $6.2 million to the OKX exchange, according to on-chain data reported by CryptoPotato. The move occurred shortly after the token peaked at $3.60, marking what appeared to be a coordinated liquidation by the team behind the asset.
The timing of the transfers raises questions about consistency with earlier public statements. The team had previously claimed it would not profit from the token, yet the movement of a substantial amount of coins to an exchange—a typical precursor to selling—contradicts that assertion. The transfers occurred amid broader strength in Bitcoin and altcoins, including meme coins like TRUMP, which had benefited from market momentum in the preceding 48 hours.
The token now trades 97% below its all-time high of over $73, indicating severe erosion of value from peak levels. It remains unclear whether the transferred coins were sold immediately at market prices, held on the exchange, or what portion—if any—may have been used for other purposes.