MemeCore Wallet Empties Binance of 1M TRUMP Tokens, Valued at $10.78M

According to on-chain data reviewed during the time of writing, a newly created wallet withdrew 1 million TRUMP tokens valued at approximately $10.78 million from Binance

A newly created wallet withdrew 1M TRUMP tokens (approx $10.78M) from Binance within the past hour.

Previously, MemeCore is planning to withdraw 1.39M TRUMP tokens for a TRUMP dinner at an average price of $12.82 and now is sitting on a $2.8M loss.

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A newly created wallet withdrew 1 million TRUMP tokens, valued at approximately $10.78 million, from Binance within the past hour, according to on-chain data reviewed during the time of writing.

The movement follows a string of similar high-value transactions between a Binance hot wallet and an address labeled “MemeCore” over the last two weeks.

Between two weeks ago and five days ago, Binance’s hot wallet (5tzFk) recorded multiple large outbound TRUMP token transfers to the MemeCore wallet (HLJ2V). The most notable movements included 269,899 TRUMP valued at $3.56 million and 270,000 TRUMP worth $3.47 million.

The largest single transaction in this window was a separate transfer of 363,000 TRUMP tokens valued at $4.46 million. A week ago, an additional transaction of 190,987 TRUMP worth $2.8 million was completed.

The total number of TRUMP tokens transferred from Binance to MemeCore during the observed period exceeded 2 million, with an estimated cumulative value of over $30 million.

One transfer involving a different asset was recorded during the Trump-dominated activity. A batch of 39.674 SOL tokens, valued at roughly $5,800, was moved from Binance. This instance may have represented a test transaction or diversification effort, but no additional non-TRUMP transfers were identified.

MemeCore’s Average Entry Sees Drawdown

MemeCore is planning to withdraw 1.39 million TRUMP tokens from Binance at an average price of $12.82 for what was described as a TRUMP dinner event.

However, based on the current price of $10.58, this position now reflects an unrealized loss of around $2.8 million.

Whether these holdings are being mopped up, transferred, or sold remains unclear.

Over the past 24 hours, the price of the TRUMP token fell more than 6%, moving from intraday highs near $11.25 to lows below $10.60. As of May 6, trading data shows the token trading at $10.58.

At the same time, volume increased 33% to $774.77 million from the previous day. They saw a spike in activity around the time of large ongoing transfers, which suggested that big holders were particularly interested or realigning.

The circulating supply of TRUMP is 199.99 million tokens, with a centric total supply of 999.99 million tokens. The fully diluted valuation of the token is $10.58 billion, and the current market capitalization is approximately $2.11 billion. The volume to market cap ratio currently stands at 36.92%, which means that in the current stage, we are witnessing high volatility and high turnover over a short period.