Surprising Surge for Trump’s Official Memecoin Following $320 Million Unlock Amid Dull Holiday Trading

Trump’s Memecoin TRUMP Climbs 9% After $320M Unlock, But Investors Are Still Down $2B

Trump’s memecoin, TRUMP, experienced a 9% surge in price over the last 24 hours following a massive $320 million token unlock. However, the token remains significantly down—over 88%—from its peak value of $71 on January 18, with its current price sitting at approximately $8.40.

The large unlock typically increases the token’s supply, which often puts downward pressure on the price. Despite this, the market seems to have already factored in the unlock, possibly explaining the price increase. However, with the release of such a large amount of tokens, there are growing concerns that a significant sell-off could follow, particularly due to TRUMP’s relatively low liquidity.

According to CoinMarketCap, it would only take $1.3 million to move the token’s price by 2% on major exchanges. This token unlock coincided with the Easter holiday weekend, a time when trading volumes are generally lower, potentially leading to more pronounced price fluctuations.

Speculation is also running wild on social media, with rumors circulating about a potential event for large token holders, allegedly being coordinated by Trump himself. However, these claims remain unverified and should be viewed with caution.

Dune Analytics data reveals that there are currently 636,000 holders of the TRUMP token, with just 12,285 wallets containing more than $1,000 worth of the cryptocurrency.