Trump token transfer puts fragile price support in focus

The team behind the Official Trump meme coin has transferred about $16.9 million of TRUMP tokens to three custody addresses linked to Fireblocks, drawing fresh attention to the asset’s concentrated ownership and prolonged price decline.

Blockchain records indicate that roughly 10.8 million tokens were moved on July 25, based on the market price at the time. The receiving addresses have handled TRUMP before, with some holdings later routed through other institutional custody infrastructure. The transaction does not establish that the tokens have been sold or deposited on an exchange.

Custody platforms such as Fireblocks provide secure wallet and settlement technology for companies and institutional investors. Transfers to their addresses may represent treasury management, internal restructuring, collateral arrangements or preparation for distribution. They can also precede exchange deposits, leaving traders alert to the possibility of additional supply entering the market.

TRUMP was trading near $1.59 on Monday, with a market capitalisation of about $395 million and a circulating supply of approximately 248.3 million tokens. Daily trading volume stood near $179 million, indicating heavy turnover relative to the token’s market value despite limited upward momentum.

The token remains close to its record low of about $1.50, reached in June. It has lost almost 98 per cent of its value since touching $75.35 shortly after its January 2025 launch. The scale of that decline means even modest rallies have so far failed to change the broader downward structure.

A move above the descending trend line would require more than a brief price spike. Traders are watching the $1.70 to $1.80 area, where previous recoveries have encountered selling. A sustained advance beyond that range, accompanied by stronger spot-market volume, could signal that buyers are absorbing available supply. Failure to hold above $1.50 would expose the token to price discovery below its established low.

The transfer has become significant because control of TRUMP remains highly concentrated. The project created close to one billion tokens, while only about a quarter are circulating. The original distribution assigned 80 per cent of the supply to entities affiliated with the project, subject to a staged release schedule.

That structure creates a substantial supply overhang. Even when scheduled unlocks are disclosed, movements from team-controlled wallets can unsettle holders because the tradable market is much smaller than the total token supply. The July transfer represented more than four per cent of the circulating amount, although there is no evidence that all or any of the tokens are destined for immediate sale.

Earlier movements have reinforced that sensitivity. Team-linked wallets transferred millions of TRUMP tokens to custody platforms during the first half of 2026. Such activity has encouraged traders to monitor destination addresses, subsequent transfers and exchange inflows rather than rely solely on the initial transaction.

The project’s price weakness also reflects declining enthusiasm for politically branded meme coins. These assets generally offer no claim on revenue, corporate assets or governance rights. Their value depends heavily on public attention, community activity, exchange liquidity and expectations that another buyer will pay a higher price.

TRUMP attracted intense demand after Donald Trump promoted it days before beginning his second presidential term. The token quickly became one of the world’s largest meme assets, but its price collapsed after early buyers took profits and the initial publicity faded. Research into the project has estimated that its affiliated entities generated hundreds of millions of dollars from token sales and trading fees while many retail wallets suffered losses.

Political promotion has periodically lifted trading activity. Contests offering major holders access to events attended by Trump generated short-lived increases in demand, but the second such gathering in April failed to restore the momentum seen after the launch. The token traded near $3 before that event and fell towards $2.50 during the programme, while qualifying holders controlled a smaller combined position than participants in the previous contest.