TRUMP Meme Coin Team Pulls $4.6M From Liquidity Pool, Traders Cry Rug Pull!

Developers' Shady Move Sparks Sell-Off Fears

Hold onto your hats, crypto fans! The crew behind the official TRUMP meme coin just yanked a whopping $4.6 million from its liquidity pool, sending traders into a frenzy over a potential rug pull. And guess what? This sketchy move comes just before a massive $320 million token unlock!

Get this: LookOnChain's on-chat data analysis spilled the beans that these devs pulled a sneaky one, snatching a huge wad of USDC from the liquidity pool. They didn't stop there – they bridged it to Ethereum and dumped it straight into Coinbase Prime. Talk about a bold move!

Coinbase Prime, for those not in the know, is where the big dogs play. It's a brokerage platform catering to institutional investors, offering all sorts of fancy on-chain services like trading, financing, and custody of digital assets.

The comments section is buzzing with traders speculating about an impending sell-off as the team seems to be cashing out on the token's liquidity. While it's not a full-on exit (yet), the rug pull alarm bells are ringing loud and clear.

One trader spilled the tea, saying, "When the dev moves like that, it's usually one of two things.. exit or reposition. Either way, eyes on the next move."

Another trader cracked a joke, calling it a "Trump and dump move." Ouch!

And if that's not enough, another user threw shade with a meme of a rug seller, captioned, "I didn't choose the rug life, the rug life chose me." Savage!

At the time of writing, the official TRUMP meme coin took a 2.72% hit in the last 24 hours. It's currently trading at $7.87, a whopping 90% drop from its all-time high of $73.43. But hey, it's still 83% higher than its lowest point at $4.29.

In the past week, this Solana-based meme coin has been on a roll, climbing more than 6%. With a market cap of $1.5 billion and a daily trading volume of $350 million, it's clear this token is still making waves.

But here's the kicker: this $4.6 million liquidity withdrawal happened just one day before a massive unlock of 40 million tokens – that's 20% of the circulating supply, valued at around $320 million! These tokens, held by Trump Organization affiliates, will start unlocking on April 17 and keep flowing for the next two years. Buckle up, folks, it's gonna be a wild ride!