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A wallet allegedly associated with Donald Trump’s official meme coin project has transferred nearly $20 million worth of TRUMP tokens to centralized exchanges. This development coincided with a decline in the token’s price.
On April 29, 2025, on-chain analyst EmberCN reported that a wallet linked to the project transferred a total of 1.346 million TRUMP tokens to three major exchanges. The value of this transfer was recorded at $19.53 million.
According to data from Arkham Intelligence, the tokens were distributed as follows:
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700,000 tokens (~$10.21 million) sent to Binance,
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350,000 tokens (~$5.08 million) sent to OKX,
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296,000 tokens (~$4.32 million) sent to Bybit.
It is believed that the wallet is either managed by an insider or directly connected to the project team, holding over $150 million worth of TRUMP tokens. The tokens were funded through another wallet labeled “7qtDv”.
Although the exact reason for these transfers remains unclear, such significant movements are typically interpreted as preparations for potential sales. Additionally, insider token unlocks had already begun earlier this month.
Sharp Drop in Trump Token Price
Amidst this activity, the TRUMP token’s price dropped sharply. Data shows that in the last 24 hours, the price fell by 9%, reaching $13.78. This marks a notable pullback from recent highs.
This wave of selling came shortly after excitement around a special dinner event with Donald Trump, which initially fueled strong interest and on-chain activity in the token.
On-Chain Activity and Record Trading Volume
Blockchain analytics firm Kaiko reported a 200% surge in TRUMP token trading volume following the announcement of the dinner event. Around 10,000 different wallets engaged in TRUMP transfers during this period, generating a total on-chain transaction volume of $2.4 billion, making it the busiest trading day of April.
The data indicated that most transactions originated from smaller wallets holding less than $100,000 worth of TRUMP tokens.
Meanwhile, trading volume on centralized exchanges also skyrocketed. On April 29 alone, TRUMP recorded the highest daily trading volume among all meme coins, surpassing competitors including DOGE, and accounted for nearly 50% of the total meme coin trading volume on centralized platforms.
Although volumes have cooled somewhat since the initial surge, Kaiko noted that interest may rise again. That’s because the top 220 wallets with the highest average TRUMP holdings between April 23 and May 12 will qualify for the dinner event.
Currently, the user known as “Sun” leads the competition with over 1 million time-weighted TRUMP holdings, while the “REAL” wallet sits in 220th place with just over 1,002 time-weighted TRUMP tokens.
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