Wallets linked to the deployer of the TRUMP memecoin have transferred approximately $94 million in USDC to Coinbase over the past three weeks, drawing renewed scrutiny around how liquidity tied to the token is being unwound.
On-chain action highlighted by analyst EmberCN on Dec. 31 revealed that the source of the funds came from single-sided liquidity trades on Meteora. In the trades, the creator only provided TRUMP liquidity in a particular price band, without any stablecoins. When traders engaged the liquidity pool, the protocol automatically sold TRUMP for USDC, which in turn went to Coinbase.
This strategy facilitates a gradual on-ramp of tokens into stablecoins, rather than selling large volumes on a spot market. It was noted that this strategy minimizes Market Impact while still effecting an orderly exit.
Liquidity Strategy Appears Coordinated
Data from the blockchain indicates that this approach has become a common tendency among the wallets related to TRUMP and MELIANA tokens. The wallets have opted to route the funds through liquidity pools as opposed to making one-off transactions to the centralized exchanges.
Specialists regard this as joint trading behavior rather than unrelated portfolio diversification. The wallets that utilize single-sided liquidity can then profit from those assets without causing dramatic price movements as a consequence of direct selling.
Exchange Inflows Raise Supply Concerns
TRUMP is listed on various major trading platforms such as Binance, OKX, Bybit, Robinhood, and Kraken. Throughout the year 2025, various wallets belonging to the project team have made substantial deposits of TRUMP-related assets into each of the aforementioned exchanges.
TRUMP tokens amounting to at least 3.53 million were transferred by wallets in June alone to Binance, valued at approximately $32.8 million. However, earlier in the year, the number of tokens that were transferred had gone past 12.54 million to various platforms and were estimated at $150.7 million.
Although the group has periodically characterized such transactions as liquidity provision, it appears that such repeated inflows indicate the presence of strong implied selling pressure. In each instance, the significant transfer raised fears about supply overhang.
Price Struggles Despite Activity
At the time of writing, TRUMP traded at $4.96, up 1.2% on the day. Despite the modest gain, the token remains down 15% over the past 30 days and sits nearly 93% below its January peak of $73.
Market participants continue to monitor deployer-linked wallets closely, as on-chain movements have repeatedly preceded periods of heightened volatility.
Promotions Clash with Investor Caution
With trading volumes easing, a recent press release announced a $1 million gaming campaign. “It’s clearly a move to get people interested,” a supporter explained, “but people are still pretty skeptical about why they should get involved.”
Deployer control, liquid mechanics, and regular exchange deposits have been identified as major risk areas by critics. These factors have kept sentiment divided, even as promotional efforts intensify.
The token also carries political overtones. Donald Trump has links to the project through licensing arrangements and reported allocations tied to MAGA-branded crypto ventures. Estimates suggest his broader crypto-related holdings have added more than $1.2 billion to his net worth, amplifying public and regulatory interest in TRUMP’s on-chain activity.
As deployer-linked wallets continue routing funds to exchanges, traders and analysts alike remain focused on whether liquidity exits will persist and how much pressure the market can absorb.
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