A massive wallet transfer has put the spotlight back on Trump’s controversial memecoin as questions swirl over its future and team’s intent.
Quick Summary – TLDR:
- $105 million in TRUMP tokens moved to new wallets, including Fireblocks and BitGo.
- It’s the largest transfer since the token launched, sparking fresh sell-off fears.
- TRUMP token is down 94% from its all-time high and continues facing bearish pressure.
- Lawmakers are scrutinizing the project as debates over the Clarity Act continue.
What Happened?
A crypto wallet tied to the team behind President Donald Trump’s TRUMP memecoin moved over $105 million worth of tokens to new wallets over the weekend. The transfers, which included movements to Fireblocks and BitGo, have led to widespread speculation about a potential dump. This comes at a time when the token is underperforming and the crypto market is generally bearish.
Trump Meme Team Allocation Wallet sent 5.267M $TRUMP, worth $22.44M, into a #BitGo Custody wallet.
— Onchain Lens (@OnchainLens) February 3, 2026
Are we selling via OTC?https://t.co/Jg8k8UkH4j pic.twitter.com/O6nu3vk74b
Major Wallet Moves Raise Eyebrows
The transfers occurred in two large tranches:
- $81 million worth of TRUMP was moved to a Fireblocks custody wallet on Friday night.
- Another $24 million went to an unmarked wallet, which had previously tested a transfer to Coinbase.
- Separately, 5.26 million TRUMP tokens, worth $22.44 million, were shifted to BitGo, another crypto custody platform.
Although there’s been no official comment from the TRUMP token team, these are the largest single transfers since the token’s debut. The transactions were executed via a wallet labeled “Team allocation” on Arkham Intelligence.
Market Reacts with Bearish Sentiment
The timing of these moves is critical. The TRUMP token has been in freefall, now trading 94% below its all-time high of $73. In just the past week, it shed another 14%, aligning with a broader market downturn where Bitcoin dropped 12%.
Despite a brief 3.25% price jump in the last 24 hours to $4.26, trading volume fell 35% to $196.75 million, showing declining investor interest.
Derivatives data from CoinGlass indicates:
- $795.8K in long-leveraged positions could be liquidated if price drops below $4.17.
- $1.87 million in short-leveraged positions show traders are betting against a price rise.
Token Unlock Timeline and Ownership Links
The TRUMP memecoin was launched just over a year ago. At launch, only 20% of the 1 billion total tokens were released into the market. The remaining 80% is held by Trump and his associates, under a structured unlock plan extending two years.
As of now, $2.1 billion worth of TRUMP tokens have been unlocked, per DefiLlama. However, how much has been sold remains unknown. Transfers to custody services like Fireblocks and BitGo make it harder to track further movements.
The TRUMP token’s reserve is tied to:
- Trump-owned CIC Digital LLC.
- Fight Fight Fight, a firm co-owned with Celebration Cards LLC.
- Legal entities connected to Andrew Pierce, known for anonymous shell company setups.
- Bill Zanker, a Trump confidante and co-author, who is listed as a key contact for Fight Fight Fight.
Price Action and Technical Outlook
Currently, the token is showing strong resistance at the $4.30 level. If this resistance is broken, there’s potential for a 10% rally toward $4.70. However, failing to do so could mean further declines.
Technical indicators:
- ADX at 35.97, suggesting a strong trend.
- Money Flow Index (MFI) at 30.27, putting the asset close to oversold territory.
Moreover, $473.9K worth of TRUMP tokens have moved to crypto exchanges in the past 24 hours, a sign that the team or investors could be preparing to sell.
SQ Magazine Takeaway
Let me be blunt. When a crypto project quietly shifts over $100 million in tokens during a bear market, it raises red flags. Whether or not the team behind TRUMP plans to dump, these moves are far from confidence-boosting. Combine that with regulatory scrutiny, massive losses since launch, and declining investor interest, and it’s hard to see a bullish path forward. I always advise readers to stay sharp when on-chain activity tells a louder story than press releases.
