TRUMP Developers Shrink Liquidity by Removing $4.6M USDC from Pool

• OFFICIAL TRUMP memecoin developers removed $4.6 million USDC from its liquidity pool today. 
• The TRUMP token is trading at $8.00 with a slight price rise in the last 24 hours. 

Donald Trump’s memecoin TRUMP made it to the headlines today because of its developer activity. On-chain analytics platform found out that the token’s developer team removed $4.6 million USDC and bridged it to Ethereum before depositing it into Coinbase Prime. The community is raising concerns about an upcoming rug pull of the TRUMP memecoin. 

On-chain tracking platform Lookonchain found that TRUMP developers removed $4.6 million USDC from its liquidity pool. Its official post cited two prominent blockchain explorers, Etherscan and Solscan, to confirm the transaction. After removing $4.6 million USDC from the pool, developers bridged them to Ethereum and deposited them into Coinbase Prime. 

The incident is raising concerns among the crypto community. Being named after the US President, the OFFICIAL TRUMP memecoin garnered a loyal community of followers. Removing a large amount of USDC, worth $4.6M, from its liquidity pool is raising suspicions among the community about an upcoming rug pull. 

The news received mixed reactions from the community of TRUMP memecoin. One comment reads, “When the dev moves like that, it’s usually one of two things.. exit or reposition. Either way, eyes on the next move.” Another commentator posted a meme that says, I didn’t choose the rug life, the rug life chose me. Most of the people are confused about whether this is a bullish or bearish sign for the TRUMP memecoin. 

TRUMP Trades Sideways With No Gains or Losses

The official TRUMP token is trading at $8.00 at the time of reporting, with no significant gains or losses. Its price witnessed a 0.92%, 6.10%, and -30% on a daily, weekly, and monthly basis. The trading volume dropped 4.84% in the last 24 hours. With a $1.6 billion market cap, TRUMP memecoin is in the 46th position. 

The shrinkage of liquidity due to the removal of $4.6 million USDC didn’t seem to impact the market price of TRUMP. There are currently 199.99 million TRUMP tokens in circulation. As per the project’s token unlock schedule, 40 million tokens are scheduled to be unlocked on April 17. 

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