$19.6M Shift Ahead of Investor Dinner—TRUMP Token Faces Heat
$TRUMP coin, inspired by former President Donald Trump, is under fire after the core team transferred almost $20 million worth...
Quick overview
- $TRUMP coin faces scrutiny after transferring nearly $20 million in tokens to exchanges before a private dinner with investors, raising concerns of market manipulation.
- Senators Elizabeth Warren and Adam Schiff have called for an ethics investigation into the legality of the dinner invitation to top $TRUMP coin holders.
- The token's price has pulled back from recent highs, testing key support levels, while market sentiment remains cautious amid regulatory concerns.
- Despite a recent 70% gain, trading volumes and futures open interest have declined, indicating traders are reducing risk.
$TRUMP coin, inspired by former President Donald Trump, is under fire after the core team transferred almost $20 million worth of tokens to centralized exchanges just weeks before a private dinner with top investors. The move, which coincided with a price surge, has raised concerns of market manipulation and ethics violations.
Token Transfers Raise Eyebrows Across Exchanges
On April 29, Lookonchain revealed that wallets associated with the $TRUMP project deposited $19.6 million worth of tokens to major exchanges:
Binance: 700,000 tokens valued at $10.21 million
OKX: 350,000 tokens worth approximately $5.2 million
Bybit: 296,000 tokens totaling around $4.2 million
These transfers increased the token’s circulating supply and investors are worried about a selloff. The timing—just before the private dinner—has insiders cashing out before more price volatility.
Democrats Demand Ethics Investigation Into Trump Dinner
Adding to the controversy, Senators Elizabeth Warren and Adam Schiff have formally requested an ethics investigation. The letter to Office of Government Ethics Director Jamieson Greer asks about the legality and transparency of Trump’s May 22, 2025 dinner with the top 220 $TRUMP coin holders.
“We write to request an urgent inquiry regarding President Trump’s invitation for top investors in his meme coin, $TRUMP, to join him at an intimate private dinner and private VIP reception,” the senators said.
The senators pointed out a $100 million market cap increase after the dinner announcement as a red flag. Rumors that TRON founder Justin Sun will attend have added to concerns of industry collusion.
Technical Analysis: $TRUMP Tests Key Support
$TRUMP/USDT has pulled back from its recent high of $16.44 and is now trading at $13.84, testing the 0.382 Fibonacci level at $12.99. This support zone is reinforced by the 50 EMA at $12.86. A break below $12.80 could open up to $11.92 and $10.86.But momentum traders are looking for a bounce off this zone.
A confirmed break above $14.31 with volume could lead to a retest of $16.40. MACD has crossed into bearish territory, so short term cautious, but volume is the confirmation tool.
Trade ideas:
Buy above $14.31 on strong volume with stop-loss at $12.80
Bounce play near $12.99–$12.86 zone, target $14.31
Breakdown below $12.80 may go to $11.90
Market Sentiment Turns Cautious
Despite 70% gain in the past week, $TRUMP is showing signs of cooling off:
Futures Open Interest: Down 8% to $734 million
Derivatives Volume: Down 13% to $2.70 billion
Traders are scaling back risk with regulatory concerns and technical pressure. Until the price breaks above with conviction, sentiment will be mixed.
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