Is TRUMP Coin Officially Dead? On-Chain Data Points to $94 Million USDC Cash-Out

Questions around the future of TRUMP Coin have resurfaced after new blockchain evidence suggested that wallets linked to the project’s operators have been moving tens of millions of dollars to centralized exchanges. The activity has reignited speculation that the team may be executing a large-scale sell-off.

Suspicious Transfers and One-Sided Liquidity Blockchain analyst EmberCN reported that an address associated with TRUMP Coin sent roughly $94 million in USDC to Coinbase over a period of about three weeks. According to the analysis, the funds were generated through a specific strategy: adding one-sided liquidity on Meteora, a Solana-based decentralized exchange, and then selling the token in pre-defined price ranges. This approach converts tokens directly into stablecoins—primarily USDC—without traditional pairing. The same method was reportedly used to unwind positions in the MELANIA token. Once converted, the USDC was promptly transferred to Coinbase, reinforcing the theory that the team may be locking in profits and stepping away from the project.

A Pattern of Large-Scale Sell-Offs TRUMP Coin has long struggled with pressure from large wallets believed to be linked to the team. These wallets have repeatedly deposited substantial amounts of tokens onto exchanges in waves. In May, on-chain trackers flagged a single transfer of 3.5 million tokens—worth about $52.6 million at the time—sent to centralized exchanges in one move. That followed a similar episode in April, when roughly $19.6 million worth of tokens were deposited across Binance, OKX, and Bybit. Such activity has steadily eroded investor confidence.

“One of the Worst Liquidity Drains” Crypto commentator Ardi described TRUMP Coin as one of the most severe liquidity-drain events the sector has seen. He noted that the token’s fully diluted valuation once peaked above $67 billion before collapsing by more than 90%. Adding to the uncertainty, attention appears to be shifting away from the token itself. Analysts suggest figures within Trump’s business circle are now focusing on other crypto initiatives, such as World Liberty Financial Token, leaving TRUMP Coin increasingly sidelined.

Attempts to Revive the Ecosystem Despite these warning signs, the project’s team maintains that development is ongoing. Last month, they announced a Trump-themed mobile game intended to expand the token’s utility. The project had previously launched TrumpWallet, a branded wallet and trading interface aimed at onboarding new users. Early participants on the game’s waitlist were also promised token rewards totaling $1 million.

Political Memecoins Still Making Noise The TRUMP Coin saga is unfolding amid a broader surge in political memecoins. In September, Solana co-founder Anatoly Yakovenko even floated the idea of a rival political token called “Trump Corruption,” proposed under a so-called fair-launch model. Whether TRUMP Coin is truly “officially dead” remains unclear. However, on-chain data increasingly suggests that key insiders are steadily extracting capital—raising serious questions about the project’s long-term viability.

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