TL;DR
- On-chain data shared by Lookonchain shows that the Official Trump team deposited another sizeable batch of the asset to centralized exchanges yesterday.
- While they have done this in the past on numerous occasions, this particular transfer raises questions about inside information, as it came just hours before the US attacked Iran.
It was just a few months ago when TRUMP skyrocketed as the US President invited the top 220 holders to attend a special dinner event with him in the States. Naturally, people rushed in to buy the token, which doubled in value in days and exceeded $16 in late April.
However, speculators started to take profits off the table, and TRUMP corrected almost immediately. Nevertheless, it remained above $10 for the next several weeks before Israel’s attacks against Iran took place last week.
The past 24 hours have been particularly brutal to altcoins as the US joined Israel in attacking Iran. This is evident by the growing bitcoin dominance , and the Official Trump meme coin has not been spared. The asset has slumped by over 6% on a daily scale and now trades well below $9.
This is why many X users questioned whether the team was aware of what was to take place just hours after they transferred more than $32 million worth of TRUMP to Binance.
It’s worth noting that the US President confirmed the attacks at 00:50 BST (19:50 local time) on his social media platform, Truth Social, which was several hours after the transfers to Binance.
