TRUMP memecoin team moves 4.9mln tokens - Can $2.3 still hold?
Tech TRUMP memecoin team moves 4.9mln tokens – Can $2.3 still hold? After the transfer, the same wallet deposited 7 million TRUMP worth $17.22 million to BitGo. This wallet has recently become active, depositing 7.5 million TRUMP, worth $21.8 million, over the past three weeks. Source: Arkham After the latest movement, the wallet still held around 1.5 million TRUMP, worth about $3.6 million. Given its recent deposit pattern, further transfers remain possible, though the wallets next move cannot be confirmed yet. Previous deposits from related wallets have raised sell-off concerns, but the latest transfer does not confirm immediate selling. With team-linked wallets moving large amounts during a period of weakness, the activity has raised fresh concerns around supply pressure. It could reflect operational funding needs, but it may also feed fears of reduced confidence among insiders. Large team-linked transfers often add pressure to weak markets, especially when traders expect those tokens to reach trading venues. Trumps sell-side activity hits heating levelsSource: CryptoQuant Source: CryptoQuantMore losses ahead for the memecoin? TRUMP has continued to hover around $2.4, and even with the latest token transfer, the memecoin barely moved. Despite no significant price movement, the memecoin‘s downward momentum remains elevated. In fact, the memecoin’s Balance of Power indicator has remained negative, currently around