In late August, positive momentum shifted in favor of bulls, with memecoins climbing double digits. Official Trump surged 43%, marking its first monthly gain since October 2025. A subsequent $26 million transfer of TRUMP to BitGo was initially viewed as profit-taking, but the token faced rejection near $2.50 after a 2% pullback. The timing of this move, combined with a massively oversold RSI and a lack of FOMO buying, suggests a strategic exit rather than routine profit-taking. Additionally, TRUMP faces increased pressure from over 313,000 new tokens created on Solana launchpads in the past week, the highest since the memecoin’s launch.
Official Trump closed August with its highest wick at $3, but a 2% intraday pullback pushed the memecoin back toward $2.30, indicating a clear rejection at the $2.50 level.
As stated, the $26 million TRUMP transfer occurred at the time of this rejection. If this was healthy profit-taking, the price should have shown a stronger bullish reaction, but TRUMP dropped despite the RSI being deeply oversold.
In a stronger setup, FOMO buyers could have swallowed the selling pressure. This raises the question of whether the transfer was a strategic exit rather than simple profit-taking.
For a speculative asset, maintaining HODL sentiment is always a key test. According to CoinMarketCap, the memecoin market is saturated with millions of assets, making competition cutthroat.
Data shows that Solana is adding more competition, with over 313,000 tokens created on its launchpads in the last week alone. This marks the highest weekly token creation since the peak following the TRUMP memecoin’s launch.
In this regard, the $26 million move by TRUMP’s team adds another layer of pressure. Combined with the lack of FOMO after the sell-off, the massively oversold RSI, the rejection at $2.50, and rising competition, the setup is less bullish than it initially appeared. The transfer would hence signal more than just routine profit-taking.
