The token hit a 5-month-peak yesterday and the team behind it started selling immediately, according to on-chain data.
The cryptocurrency market received a massive push over the past several days, with bitcoin gaining $15,000 in less than 48 hours, while the altcoins followed suit with big gains.
Many meme coins did the same, including Official Trump (TRUMP) – one of the tokens linked to the First Family. However, as it has happened numerous times in the past, the team behind the asset has seemingly taken advantage just to sell more portions of it.
TRUMP Team Sells Again?
Citing on-chain data from Arkham Intelligence, Lookonchain reported hours ago that the TRUMP team sent another 2.62 million coins to OKX. In terms of USD value, the transfer was worth roughly $6.2 million.
Although this doesn’t necessarily mean that the team has sold, sending tokens to exchanges, especially given their track record and the recent price pumps, hints heavily that they have offloaded more of the asset.
The #Trump team transferred out another 2.62M $TRUMP($6.21M) an hour ago.
The 2.62M $TRUMP ($6.21M) was then deposited into #OKX.https://t.co/gayhdrY7fy pic.twitter.com/PmHRbAmksb
— Lookonchain (@lookonchain) August 23, 2026
The asset saw the light of day just 48 hours before Donald Trump was inaugurated as US President in January 2025. It flew to an all-time high of over $73 in minutes before it started correcting heavily.
Since then, reports have emerged after every rebound that the team behind it has sold some portions of it, even though the POTUS has denied profiting from the token. Nevertheless, several US Senators urged the SEC to investigate the meme coin, arguing that it may have facilitated fraud or unlawful enrichment at the expense of retail investors.
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Pump and Dump
As mentioned above, TRUMP skyrocketed yesterday by double- and even triple-digit percentages and re-entered the top 100 alts by market cap. It stood below $1.50 when its rally began and topped $3.60 at its peak, which became its highest price tag since March.
However, it was rejected there and slumped to $2.40 as of press time, which represents a 33% dump from its local peak after the sales reports emerged.
Nevertheless, it remains within the top 100 alts as its own market cap sits at around $600 million. On the other hand, its demise since the January 19 ATH is more than evident, as it trades 97% away from that peak. Its all-time low came last week at $1.37.
