TRUMP Coin Faces Scrutiny Amid $94 Million USDC Sell-Off
- Approximately $94 million in USDC has been transferred to Coinbase from wallets linked to the TRUMP Coin project over the last three weeks.
- The funds were raised through single-sided liquidity addition on the Solana-based DEX, Meteora, followed by token sales at set price intervals.
- In May, a notable transfer of about $52.6 million in TRUMP tokens occurred, with earlier deposits of approximately $19.6 million across Binance, OKX, and Bybit.
- The fully diluted valuation of TRUMP Coin peaked at over $67 billion before experiencing a decline of more than 90%.
- Experts suggest that attention is shifting away from TRUMP Coin towards other crypto projects associated with Trump.
Recent transactions involving TRUMP Coin have raised concerns about potential sell-offs and liquidity extraction within the project. The significant movement of funds to centralized exchanges indicates possible liquidation strategies being employed by team-linked wallets.
With a decline of over $63 billion in value since its peak, the future of TRUMP Coin remains uncertain as it faces allegations of being effectively dead amidst ongoing sell-offs.(Source)
