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Is The TRUMP Meme Coin Team Dumping Tokens After Dinner Invite and Price Surge?
The popular meme coin, which skyrocketed in value over the past week after news of a dinner invitation with President Donald Trump emerged, is now under scrutiny as some have spotted large transactions by the team behind the token. The recent price surge, fueled by the announcement of a special event at Trump National Golf Club, has raised concerns that the TRUMP team might be cashing in on their gains.
According to an update from Lookonchain, a wallet linked to the $TRUMP team deposited 1,346,000 tokens (approximately $19.58 million) into Binance, OKX, and Bybit just nine hours prior to the article’s publishing date. The development has sparked widespread speculation that this could be evidence of a dump scheme.
The move by the TRUMP team has left many wondering why such a significant transfer would take place at this specific time. As you can’t have a better explanation, it is logical to assume they are cashing in on their gains, especially given the fact that all transactions are visible on the blockchain.
While there isn’t any conclusive evidence suggesting the TRUMP team is engaging in a dump strategy, it is hard to ignore the timing of this transaction. The token’s price has been skyrocketing following news of the dinner invitation with President Trump, and the team behind it now appears to be making large withdrawals.
Source: https://cryptopotato.com/is-the-trump-meme-coin-team-dumping-tokens-after-dinner-invite-and-price-surge/
