TRUMP Meme Coin Team Suddenly Moves $32.8 Million to Binance — Is a Major Dump Incoming?

Jakarta, Pintu News – According to BeInCrypto, the team behind the Solana (SOL)-based Official Trump (TRUMP) meme coin – a digital asset associated with US President Donald Trump’s brand – has moved 3.527 million tokens (equivalent to approximately $32.8 million) to Binance.

This transaction is the latest in a series of large token deposits to centralized exchanges, sparking new concerns regarding the team’s intentions and their potential impact on market stability.

Nearly $150 Million in TRUMP Tokens Have Been Moved

Blockchain analytics platform Lookonchain reported that this latest transfer made on June 21 is part of a larger pattern.

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Since late April, the team behind the project has sent over 12.5 million TRUMP tokens – valued at over $150 million – to exchanges such as Binance, OKX, and Bybit.

Market experts warn that large token deposits to exchanges without transparent communication can increase uncertainty and trigger price drops.

However, project representatives previously stated that the token transfer was aimed at supporting liquidity and ensuring smooth trading conditions.

They also explained that the tokens come from a wallet created specifically for this purpose since the launch phase of the project.

TRUMP Token Down 90% from its Peak

However, the token’s market value continues to decline. Based on data from BeInCrypto, TRUMP has lost about 6% in the last 24 hours and is currently at around $8.68 on June 22, 2025.

Since its debut in January, the token’s value has dropped by about 90% from its peak that once surpassed $75.

Meanwhile, the controversy surrounding the token is not just limited to market activity. There is also ongoing political scrutiny regarding the token’s association with US President Donald Trump, further complicating sentiment towards the meme coin.

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For context, US House of Representatives Member Brad Sherman recently accused TikTok of planning to spend $300 million to buy TRUMP tokens in an effort to influence US policy. However, TikTok denied the allegations, calling them misleading and baseless.

“Congressman, the claim that TikTok owners bought ‘Trump Coin’ is clearly false and irresponsible, and does not even reflect the content of the letter you signed last month,” the video-sharing platform said.

All of these issues keep the TRUMP token’s prospects uncertain, as skepticism about its usefulness grows and the downward price trend continues.

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Reference:

• BeInCrypto. TRUMP Meme Coin Team Moves $32.8 Million to Binance. Accessed on June 23, 2025