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TRUMP Token Faces Liquidity Crisis as Team Withdraws $4.4 Million, Whale Prepares $2.5 Million Sell-Off
TRUMP Token Faces Liquidity Crisis as Team Withdraws $4.4 Million, Whale Prepares $2.5 Million Sell-Off
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BTCCSquare news:
The TRUMP meme token, associated with former US President Donald Trump, has plummeted nearly 90% from its all-time high six months ago. Currently trading at $8.80, the token fell another 6% this week amid fears of a liquidity crunch. The project's team abruptly withdrew $4.4 million in USDC and 347,438 TRUMP tokens ($3.12 million) from liquidity pools, transferring the assets to a new wallet without explanation.
Market anxiety intensified as whale wallet Kewh32 placed a $2.5 million sell order for 275,672 TRUMP tokens. This follows the same entity's 100,000-token sale earlier in June. With 369,400 tokens remaining in the whale's reserve, traders brace for potential downward pressure on an already fragile market.
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