The team behind the Trump-themed meme coin on Solana has withdrawn$4.6 million in USDC just days before a massive token unlock.
The funds were pulled from the liquidity pool and sent to Coinbase Prime, marking the creators' first known withdrawal.
On Thursday, the TRUMP token is set to release 40 million coins into circulation, valued at around$309 million.
The event coincides with the three-month anniversary of the token's launch. At its peak, the same amount would have been worth close to$2.9 billion.
The reason behind the recent transfer remains unclear, and no official comment has been made by those connected to the project.
The TRUMP token has dropped 89% from its all-time high and is now trading at$7.73. Analysts expect the upcoming unlock to increase selling pressure.
However, the token's unique community, many of whom are new to crypto, may respond differently than traditional investors.
A large portion of the total supply, 80%, is allocated to the project's creators, including Donald Trump himself.
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