Large stablecoin movements linked to the Official Trump memecoin on Solana are drawing renewed attention after onchain analysts identified tens of millions of dollars exiting liquidity pools over the past month.
Wallets associated with what analysts label the “Official Trump Meme” cluster have collectively moved roughly $94 million in USDC, according to blockchain tracking data.
Key takeaways:
Nearly $94 million in USDC has been pulled from TRUMP-linked liquidity pools in recent weeks, signaling heavy treasury or liquidity activity.
A significant portion of the funds was routed through institutional infrastructure before reaching centralized exchange wallets, pointing to potential offchain use.
The scale and timing of the transfers have intensified scrutiny around a politically branded memecoin already under public and regulatory attention.
The latest transaction, flagged by Arkham, shows about $33 million in USDC withdrawn from TRUMP-related liquidity and routed through Fireblocks before landing in wallets identified as belonging to Coinbase. Public records on Solana explorers support the pattern of repeated USDC outflows from addresses tied to the project.
From Explosive Launch to Deep Drawdown
The transfers cap off a turbulent year for the TRUMP token. Launched on January 18, just days before Donald Trump’s inauguration on January 20, the memecoin saw a rapid speculative surge that peaked at $75 on January 19. From there, prices steadily unraveled over the remainder of the year.
TRUMP now trades at $4.90, representing a decline of nearly 90% from its peak. While late buyers absorbed heavy losses, the token’s structure and trading activity proved lucrative for insiders and related entities, generating more than $320 million in fees over the year, according to onchain estimates.
Political Branding Meets Financial Scrutiny
Onchain data alone cannot definitively establish who controls every wallet associated with the Trump memecoin cluster or the precise purpose behind routing funds through custody providers and centralized exchanges. The transfers could reflect routine treasury management, tax obligations, or other offchain requirements.
That said, the scale and frequency of liquidity withdrawals stand out given the project’s overt political branding and its association with a sitting U.S. president. Earlier this year, Democratic lawmakers formally requested information from the U.S.
Treasury Department regarding Trump’s crypto-related activities, underscoring the heightened regulatory and political attention surrounding the token.
A Harsh Year for Memecoins Overall
The TRUMP token’s decline also mirrors a broader trend across the memecoin sector in 2025. Major names such as Dogecoin, Shiba Inu, and Pepe maintained large market capitalizations but finished the year far below earlier highs.
Meanwhile, a wave of smaller Solana- and Ethereum-based memecoins experienced sharp boom-and-bust cycles, often followed by 80%–90% drawdowns and shrinking exit liquidity.
