Blockchain analysts monitoring the Official Trump TRUMP memecoin on Solana have flagged substantial liquidity movements linked to project-associated wallets.
Over the past month, addresses labeled as part of the “Official Trump Meme” cluster have moved roughly $94 million in USDC out of TRUMP liquidity pools.
The latest transaction occurred on Tuesday, when approximately $33 million in USDC was withdrawn from liquidity.
Blockchain data platform Arkham reported that the funds were sent to an entity labeled Fireblocks.
From there, the stablecoins were routed onward to wallets labeled as belonging to Coinbase.
Public Solana records visible on Solscan corroborate the scale and timing of the USDC outflows from TRUMP-linked addresses.
A dramatic rise and fall
The transfers cap a volatile year for TRUMP, which launched on Jan. 18, just days before the US president’s inauguration.
The token surged rapidly, reaching an all-time high of $75.35 on Jan. 19.
From that peak, prices steadily unwound throughout the remainder of the year.
According to market data, TRUMP is now trading below $5.
That represents a decline of nearly 90% from its highs, leaving many late buyers facing steep losses.
Despite those losses, the token’s structure and trading activity have generated more than $320 million in fees for insiders and related entities.
What the transfers may mean
Onchain data alone cannot definitively establish who controls every wallet labeled within the Trump meme cluster.
Nor can it conclusively explain the purpose behind routing funds through Fireblocks toward Coinbase.
Such movements could reflect treasury management, tax planning or the settlement of offchain obligations.
However, for a politically branded asset closely tied to the image of a sitting US president, repeated large liquidity withdrawals attract attention.
Stablecoin movements of this scale naturally raise questions around transparency and governance.
Political scrutiny intensifies
The scrutiny is not limited to the crypto community.
Earlier this year, Democratic Party lawmakers formally requested details from the US Treasury Department regarding Trump’s crypto ventures.
The inquiry sought clarification on associated financial arrangements and potential conflicts of interest.
That political backdrop means that activity linked to the TRUMP token is being examined through both regulatory and partisan lenses.
A harsh year for memecoins
The broader memecoin sector in 2025 has provided little relief.
Major tokens such as Dogecoin, Shiba Inu and Pepe retained significant market capitalizations but ended the year far below their local peaks.
A long tail of smaller Solana and Ethereum-based memecoins experienced similar patterns.
Many election-themed and personality-driven tokens saw explosive early rallies followed by 80% to 90% drawdowns.
As liquidity thinned, exits became increasingly difficult for late participants.
At the time of publication, the TRUMP memecoin team had not responded to questions seeking clarification on the recent USDC transfers.
