TRUMP token whales shift $17M to BitGo as price slides 3%

Project-linked wallets moved 10.84 million TRUMP tokens, worth roughly $16.91 million, toward crypto custodian BitGo over the weekend, blockchain tracker Lookonchain reported. The transfer landed hours after President Donald Trump used the White House Correspondents' Association dinner to revive his longest-running political provocation, pulling out a red "Trump 2028" hat and joking about a fourth presidential term. The two events are not directly connected, but their timing puts fresh attention on a token trading around $1.55, down about 3% over the prior 24 hours and more than 66% below its January 2025 launch peak near $75.35.

Why it matters

TRUMP is a politically branded memecoin whose supply remains heavily concentrated in wallets tied to the project team, and each new batch of unlocked tokens moving through BitGo draws renewed scrutiny. Lookonchain's data shows project-linked wallets have now transferred roughly 48.25 million TRUMP, valued at about $172.4 million, across three batches over the past five months. The project has separately disclosed plans to selectively deploy, sell, distribute, or monetize portions of its unlocked inventory to fund partnerships and acquisitions, which broadens the read on every new transfer without confirming its purpose. A Reuters investigation published in June estimated the memecoin generated more than $1.2 billion in total revenue, with the Trump family taking roughly $616 million, while retail buyers accumulated more than $700 million in losses.

Market impact

Prediction-market traders see little prospect of the political backdrop changing the token's trajectory. Polymarket assigned just a 4% probability to a contract asking whether US presidential term limits would be repealed or altered this year, with less than $20,000 in volume, signaling thin conviction the 22nd Amendment obstacle disappears before the end of 2026. The project is leaning on a Trump Coin Club rewards program to keep top holders committed, extending FIFA World Cup-style perks into the Singapore Grand Prix in October and Super Bowl LXI in February 2027, with leaderboard rankings tied to TRUMP balances.