Wallets linked to the TRUMP memecoin team withdrew roughly $94 million in USDC from liquidity pools during December, according to onchain data.
Blockchain analysts tracking the Official Trump memecoin on Solana flagged the movements as unusually large.
Data from Arkham showed the wallets were labelled as part of the “Official Trump Meme” cluster.
The most recent transfer involved around $33 million in USDC.
Arkham data showed the funds were first sent to an entity labelled Fireblocks.
The USDC was then routed onwards to wallets identified as belonging to Coinbase.
Public Solana blockchain records on Solscan confirmed the scale of the USDC outflows.
Analysts said the activity marked the end of a turbulent year for the TRUMP token.
TRUMP launched on 18 January shortly before the president’s inauguration.
The token surged rapidly to an all-time high of $75.35 the day before the inauguration.
After peaking, TRUMP steadily declined throughout the year.
The token is now trading below $5, representing a drop of nearly 90% from its peak.
Late investors suffered heavy losses as prices continued to unwind.