Summary:
- A wallet linked to the Trump memecoin project transferred $19.53M worth of tokens to centralized exchanges.
- The TRUMP token’s price dropped 9% in 24 hours, now trading at $13.78.
- The memecoin saw a $2.4B on-chain volume surge driven by a planned dinner with Donald Trump.
- Over 10,000 wallets participated in the recent transfer frenzy.
- Top 220 holders by average TRUMP holdings between April 23–May 12 qualify for the dinner event.
$150M Insider Wallet Moves $20M TRUMP Tokens
A wallet suspected to be linked to the official Donald Trump memecoin project has made headlines by transferring nearly $20 million worth of TRUMP tokens to centralized exchanges. On April 29, blockchain analyst EmberCN revealed that the wallet—believed to be an insider account—moved a total of 1.346 million tokens to Binance, OKX, and Bybit.
Breakdown of the transfers:
- Binance: 700,000 tokens worth $10.21 million
- OKX: 350,000 tokens worth $5.08 million
- Bybit: 296,000 tokens worth $4.32 million
According to Arkham Intelligence, this wallet is linked to another address, 7qtDv, and is estimated to still hold over $150 million worth of TRUMP tokens. These movements typically signal a preparation to liquidate assets, though the exact intention remains unclear. Notably, insider token unlocks began earlier in April.
Price Dips Following Exchange Movements
Coinciding with these large transfers, the TRUMP token saw a 9% drop in price, falling to $13.78 in just 24 hours. This sharp dip marks a significant retreat from its earlier highs, triggered largely by increased sell pressure and market reaction to the insider wallet activity.
Massive On-Chain Surge Linked to Trump Dinner Event
Despite the price decline, the TRUMP memecoin recently experienced a record-breaking on-chain volume. Blockchain analytics firm Kaiko reported that trading volume for the token spiked by 200% following the announcement of an exclusive dinner with Donald Trump.
Over 10,000 unique wallets engaged in TRUMP token transfers during the surge, pushing the on-chain volume to approximately $2.4 billion—the busiest single day for the token in April.
Kaiko also noted that a majority of these transactions came from smaller holders, each possessing less than $100,000 in TRUMP tokens. The token even outperformed established memecoins like DOGE, accounting for 50% of total memecoin trading volume across centralized platforms on the day of the announcement.
Competition Intensifies as Deadline Nears
The rise in trading activity is directly linked to a promotional campaign. According to the event’s rules, the top 220 wallets with the highest average TRUMP holdings between April 23 and May 12 will earn a seat at the dinner table with Donald Trump.
At present:
- The wallet named “Sun” leads with over 1 million time-weighted TRUMP tokens.
- The 220th position, held by wallet “REAL”, holds just over 1,002 tokens.
With the deadline approaching, further fluctuations and activity are expected as traders compete for a spot at the high-profile event.
Conclusion
The TRUMP token’s recent market behavior—marked by insider wallet movements, price volatility, and record-breaking trading activity—illustrates the highly speculative nature of political memecoins. While the promise of dinner with Donald Trump has fueled short-term engagement, the long-term impact of such insider-led selloffs could shape investor sentiment moving forward.