TRUMP Memecoin Transfers $17 Million, Analysts Warn of Risks

The TRUMP memecoin team transferred 10.84 million tokens worth approximately $16.91 million to custodial addresses on Fireblocks. The total amount of memecoins moved in the last five months has reached $172 million. Experts note that after similar transfers, the token's price has decreased, falling by 66% during the specified period. According to Lookonchain, the project team has withdrawn 48.25 million TRUMP tokens with a total value of about $172.4 million. The latest $16.91 million in TRUMP was transferred to three custodial addresses on Fireblocks. Analysts believe that the assets may end up at BitGo and subsequently on cryptocurrency exchanges. A user on the X platform under the pseudonym EyeOnChain pointed out that this is already the third large transaction in recent months. Analyst Crypto Jargon emphasized that the scheme for moving assets remains unchanged: tokens leave the team's wallet, go to intermediate addresses, transition to BitGo, and eventually appear on exchanges. Although there is no direct evidence that the latest transaction will lead to the sale of tokens on the open market, BitMart Intern estimated that another 10.8 million TRUMP was unlocked this week, with the next major unlocking amounting to 28.7 million tokens. Approximately 80% of the total supply of the memecoin is controlled by entities associated with Donald Trump.