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The TRUMP team recently sent nearly 33 million dollars worth of TRU tokens to CEX, raising concerns about dumping.
According to Gate News bot, as reported by Cryptodnes, the wallet associated with the meme coin TRUMP development team related to US President Donald Trump recently transferred 3.5 million Tokens (worth $32.8 million) to a CEX, raising concerns about future dumping pressure.
According to on-chain data, since late April, the team has transferred over 12.5 million TRUMP to the exchange, worth nearly $151 million. These transactions were executed in four batches.
Although the total supply cap of TRUMP is 1 billion tokens, only about 200 million tokens are currently in circulation, while the remaining tokens are still locked in the developers' wallet. The gradual release of these tokens continues to raise concerns about token dilution and price volatility.
Currently, the market value of the Token is 1.8 billion USD, a significant decrease from the peak of 9 billion USD earlier this year. According to the amount of Token held in the exchange Wallet belonging to the project, the developers still control approximately 7.3 billion USD worth of TRUMP Token.
As more tokens may enter circulation, investors' attention is shifting to whether the project can maintain its popularity, or if the developers are just preparing to cash out.