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The TRUMP meme coin group has triggered alarm amongst buyers after transferring $19.6 million value of tokens to main crypto exchanges, simply days earlier than a personal dinner with Donald Trump for the token’s prime 220 holders.
Lookonchain’s on-chain information reveals that the group despatched 1.35 million TRUMP tokens to Binance, OKX, and Bybit previously 24 hours. The deposits landed the identical week that $300 million in TRUMP tokens are set to be unlocked.
The group had beforehand advised buyers that the unlocked tokens wouldn’t be offered, however merchants now concern a dump. In the meantime, Democratic Senators Adam Schiff and Elizabeth Warren are calling for an ethics inquiry into the upcoming TRUMP dinner.
TRUMP Meme Coin Deposits Made Similar Week As Large Unlocks
The on-chain information cited by Lookonchain confirmed the vast majority of the tokens within the latest deposit have been despatched to Binance, with 700,000 TRUMP tokens despatched to the main centralized crypto trade. Of the remaining tokens, 350,000 and 296,000 tokens have been despatched to OKX and Bybit, respectively.
Whereas the transfer by the TRUMP token group might be for market making causes, the timing of the deposits has merchants on edge and bracing for a possible dump.
The tokens have been despatched in the identical week that $300 million in tokens shall be unlocked from vesting and every day locks, with $7.35 million in tokens anticipated to enter the crypto’s provide per day this week.
The deposits additionally come after the meme coin’s group assured buyers that the unlocked tokens wouldn’t be offered.
The response and pleasure over the competitors to have “Dinner with President Trump” is wonderful! We would like to make clear a number of issues individuals appear to be confused by on X and within the Media.
-You want $300K+ to take part (You Do not)
-That we’re unlocking into this competitors (We’re…— TrumpMeme (@GetTrumpMemes) April 24, 2025
Merchants Brace For TRUMP Dump As Democrats Launch Inquiry Into Upcoming Dinner
The TRUMP tokens have been additionally despatched forward of the upcoming dinner for the highest 220 TRUMP meme coin holders on Sept. 5. One X person warned the tokens will possible be offered after the highest holders have been finalized, whereas one other warned of impending volatility.
When the deposits begin, the actual video games often aren’t far behind. Watching carefully
— Ryzz (@RyzzFi) April 29, 2025
Whereas merchants brace for a possible TRUMP selloff, US Senator Adam B. Schiff and Elizabeth Warren have launched an inquiry into the upcoming TRUMP holders’ dinner.
In a submitting to the US Workplace of Authorities Ethics Director, the democratic lawmakers requested an “pressing inquiry” into the President’s invitation to prime TRUMP holders, which prompted the token’s capitalization to surge by $100 million.
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