According to data from Onchain Lens, the team behind the TRUMP Meme Token is suspected of transferring a large amount of Token to Binance via BitGo's custodial wallet.
According to on-chain analysis, over the past 9 hours, approximately 5 million TRUMP tokens (estimated to be worth around $17.3 million) have been transferred to Binance-related addresses. Previously, these Token were recorded moving from a wallet believed to belong to the project team to a BitGo wallet, and then further transferred to the exchange.
The model of transferring Token from internal wallets to custodial wallets, and then to exchanges, is often closely monitored by the market as it may be related to selling activity or liquidation restructuring. However, there has been no official confirmation from the project team regarding the purpose of this transaction. Transferring Token to an exchange does not necessarily mean a sale, but it is generally XEM as a signal that could potentially create short-term supply pressure.
Meme token are sensitive to cash flow and market sentiment, so large movements from what are believed to be the founders' wallets could affect price volatility. At the time of reporting, the Trump Meme Token team had not issued an official response regarding the transactions recorded on the chain.
