Wallets linked to the Official Trump memecoin moved 10.84 million TRUMP worth roughly $16.91 million toward exchanges, blockchain tracker Lookonchain reported, around the same time Trump joked about running for a fourth term. The token traded around $1.55, down from the $75.35 record it set after its January 2025 launch. No sale has been confirmed.
Wallets associated with the team behind the Official Trump memecoin moved 10.84 million TRUMP tokens worth roughly $16.91 million, blockchain tracker Lookonchain reported, as President Donald Trump joked about seeking a fourth term. The assets appeared likely to be routed through crypto custodian BitGo before potentially reaching exchanges, and no sale has been confirmed.
The two developments are not directly connected. But their timing puts renewed attention on a cryptocurrency built around Trump's political brand as its price falls and more project-controlled tokens move through the market.
Prediction-market traders see little chance of a term-limit change
Trump used the White House Correspondents' Association dinner to pull out a red "Trump 2028" hat and declare that he intended to run again. He acknowledged during the speech that he was joking before producing the hat and announcing what he called his fourth campaign: "I won three times. Now I'm going to do it again."
The 22nd Amendment prevents a person from being elected president more than twice, and Trump won the 2016 and 2024 elections. Traders on Polymarket assigned just a 4% probability to a contract asking whether presidential term limits would be repealed or altered this year. That market had generated less than $20,000 in trading volume, suggesting limited conviction that the constitutional restriction will change before the end of 2026.
Project-linked wallets have moved $172.4 million in five months
Those movements are part of a more sustained trend. Lookonchain said project-linked wallets have moved 48.25 million TRUMP, worth about $172.4 million, across three batches over the past five months. TRUMP has fallen more than 66% during that period and traded around $1.55, down about 3% over the previous 24 hours.
That sequencing does not establish that the transfers caused the decline, because moving tokens to custodians or exchanges can serve several purposes, including liquidity provision, market making, distributions, or eventual sales. Previous transfers, however, have followed similar routes: blockchain records cited by analysts show earlier TRUMP movements passing through BitGo before reaching exchanges.
A Reuters investigation published in June estimated that the meme coin generated more than $1.2 billion in total revenue and that the Trump family received roughly $616 million from the venture. However, the economics for many buyers moved in the opposite direction, with Reuters estimating that investors who bought TRUMP had accumulated more than $700 million in losses.
Rewards program gives the largest holders reasons to stay
As more supply enters circulation, the project is giving its biggest holders additional reasons to keep their positions through the Trump Coin Club, a recurring rewards program that ranks participants by how many tokens they hold and for how long. The next competition will send the top 23 TRUMP holders to the Formula 1 Singapore Grand Prix from Oct. 9 through Oct. 11.
Selling an entire position eliminates a holder from the leaderboard, while those who kept their balances after the July 5 snapshot receive a 10% boost based on their final World Cup score. That incentive is becoming more relevant as TRUMP trades near its lows and project-linked wallets continue moving additional supply.
Source: CryptoSlate
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