Blockchain analytics platform Lookonchain said the official Trump team allocation wallet sent 10.84 million TRUMP, worth roughly $16.91 million at current prices, toward institutional custodian Bitgo. The firm noted the transfer likely represents a staging move, with tokens typically routed through Bitgo before landing on exchanges for eventual sale.

Image source: X

Lookonchain’s data on the Trump team wallet has repeatedly preceded price swings (in TRUMP) over the past several months. Moreover, Saturday’s transfer has not been an isolated event, with the project’s team having moved a cumulative 48.25 million TRUMP, worth approximately $172.4 million, across three separate batches over the past five months.

The activity builds on a longer-running pattern Bitcoin.com News has tracked since earlier this year. In May, the allocation wallet moved 7 million TRUMP worth about $17.22 million to Bitgo through an intermediate address, a transfer that marked the third major custody move logged since the token’s January 2025 launch on Solana. That report noted the team’s wallet had already sent roughly $31.45 million and $23.18 million to Bitgo in prior tranches, and that the timing of such transfers has historically preceded exchange-side activity for the token.

TRUMP is trading near $1.55 at press time, a fraction of the price it commanded shortly after its debut. The token has declined roughly 96% from its peak, a drop that left hundreds of thousands of wallets sitting on billions of dollars in unrealized losses.

Trump-affiliated entities control roughly 80% of the token’s total supply under a three-year vesting schedule that began at launch, a structure that has drawn criticism from lawmakers and ethics watchdogs concerned about conflicts of interest tied to a sitting president’s family profiting from token sales. Each fresh custody transfer tends to further ignite that debate.

Moreover, decentralized finance (DeFi) analysts who track meme coin issuance say concentrated team-held supply of this scale is unusual even by meme token standards, since it gives a small group of wallets outsized influence over available liquidity whenever tokens move toward exchanges.

TRUMP launched on the Solana network in January 2025 alongside a companion token for First Lady Melania Trump, and both tokens saw explosive early demand before giving back the bulk of their gains as initial excitement faded and vesting unlocks began feeding new supply into the market.

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