A surprising move came from US President Donald Trump's own token, $TRUMP.
According to a post by on-chain analyst EmberCN, the $TRUMP team moved $19.5 million worth of $TRUMP to major cryptocurrency exchanges.
An address believed to be connected to the team behind the memecoin $TRUMP transferred 1.346 million $TRUMP (approximately $19.53 million) to centralized exchanges (CEXs) hours ago.
Of this amount, 700,000 $TRUMP (about $10.21 million) was sent to Binance, 350,000 $TRUMP (about $5.08 million) to OKX, and 296,000 $TRUMP (about $4.32 million) to Bybit.
Investments in stocks are often seen as an indication of intent to sell, while pullbacks usually indicate a holding strategy. However, not all investments in stocks necessarily result in sales.
After rumors that Donald Trump would meet with $TRUMP token holders for a dinner turned out to be true, there was a huge increase in the price of $TRUMP. $TRUMP, which has increased by 70.9 percent in the last 7 days, is at $ 14.
*This is not investment advice.