A suspected team wallet associated with the TRUMP meme coin has transferred a significant sum of tokens, worth approximately $47 million, to various cryptocurrency exchanges. This transfer has sparked speculation about potential selling pressure on the token. 🧐 According to blockchain analytics firm Arkham, an address linked to the TRUMP meme team moved 4.167 million TRUMP tokens from the Squads Vault. These tokens were then deposited into prominent crypto exchanges such as Binance, OKX, Bybit, and Coinbase. This action has fueled debates about a potential dump, with some traders fearing profit-taking by the team. The TRUMP meme coin, launched by former U.S. President Donald Trump, has faced scrutiny since its launch due to concerns regarding its ties with entities like CIC Digital LLC and Fight Fight Fight LLC, which reportedly hold 80% of the token supply. The token’s rapid price surge (reaching $70 billion in market cap within 60 hours after its launch) also impacted the Solana network, experiencing high trading volumes during that period. Past transfers of similar value have shown a correlation with increased market volatility and trading activity. A move of 3.5 million TRUMP tokens ($52.48 million) on May 10 resulted in a 35% surge in trading volume. This latest transfer has now brought about new concerns amongst token holders regarding potential profit-taking by the team.