Official Trump (TRUMP) Token Dips 8% Following $3.39M Team Wallet Withdrawal

Key Highlights

• The TRUMP token declined over 8% within 24 hours, reaching approximately $2.27 following team wallet withdrawals totaling $3.39M in USDC
• Team-associated wallets utilized liquidity positions on Solana instead of executing direct market sales
• The token maintains a robust 61% increase over the past week, climbing from approximately $1.40
• An upcoming vesting event on Sept. 18 will release 28.7 million tokens, representing 2.9% of total circulation
• Analysis from Public Citizen indicates TRUMP holders have collectively lost $3.2 billion since the token’s debut

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The Official Trump (TRUMP) token experienced a decline exceeding 8% during a 24-hour period ending Aug. 26, settling near $2.27 amid on-chain movements from wallets associated with the project team that liquidated substantial token holdings into USDC.

Blockchain analytics expert Lookonchain identified that wallets tied to the Official Trump initiative withdrew $3.39 million in USDC during a 10-hour timeframe on the Solana network. Rather than executing straightforward market transactions, these wallets deployed liquidity positions, introducing TRUMP tokens into specific price ranges that automatically converted to USDC as market participants executed trades.

Additional on-chain evidence highlighted by Bitcoin.com revealed approximately 646,000 TRUMP tokens moving to OKX exchange across two distinct transfers. A separate movement involved 2.62 million tokens valued at roughly $6.2 million during the transaction. While exchange deposits don’t definitively indicate immediate sales, they contributed to heightened supply-side concerns among market observers.

The digital asset declined from approximately $2.46 to an intraday bottom near $2.16 before experiencing a modest recovery. Current pricing remains significantly beneath peak levels achieved during the recent price surge.

Technical Analyst Projects $15 Potential

Digital asset analyst Crypto Patel highlighted on X that TRUMP successfully breached bear market resistance positioned at $2.055, registering a 160% surge from its recent low within merely 10 days. Patel suggested that if $2.055 establishes itself as reliable support, a potential advance toward $15 could materialize, though he recommended traders avoid pursuing the current momentum and instead position for a pullback entry.

Notwithstanding the daily retreat, TRUMP continues to show approximately 61% growth over the weekly timeframe and nearly 52% gains across two weeks. The token advanced from roughly $1.40 during the previous week before encountering fresh selling pressure.

Technical Levels and Scheduled Token Release

Examining the daily timeframe, TRUMP maintains positioning above its 20-day EMA at $1.86, 50-day EMA at $1.73, and 100-day EMA at $1.89. The 200-day EMA positioned at $2.71 represents the primary resistance obstacle ahead. TRUMP temporarily pierced this level during its advance toward $3 before encountering selling pressure that reversed the move.

The Stochastic RSI indicator displays a bearish crossover pattern, suggesting momentum is weakening following both oscillator lines recently entering overbought conditions.

A scheduled vesting release of 28.7 million TRUMP tokens is set for Sept. 18, designated for project insiders and comprising 2.9% of total circulation. This represents the 19th of 34 planned unlock events extending through December 2027.

Research from Public Citizen calculated that approximately 1 million individual wallets are currently holding unrealized losses totaling $3.2 billion since TRUMP’s initial launch on Jan. 17, 2025. Meanwhile, the top 1% of profitable holders secured approximately $2.7 billion, representing roughly 80% of total realized profits.

The post Official Trump (TRUMP) Token Dips 8% Following $3.39M Team Wallet Withdrawal appeared first on Blockonomi.

Source: https://blockonomi.com/official-trump-trump-token-dips-8-following-3-39m-team-wallet-withdrawal/