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- GT Airdrop Is Live! 1.92M GT Burned in Q2, Worth Over $39M
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Official Trump Unlocks 40 Million Tokens Worth 300 Million USD: What Will TRUMP Do Next?
Trump's official Memecoin (TRUMP) has unlocked 40 million tokens, worth approximately 300 million dollars on Friday, April 18. About 36 million TRUMP tokens, accounting for 18 percent of the total supply issued, have been allocated to the creators and CIC Digital 1. 4 million TRUMP tokens remaining, accounting for about 2% of the total issued supply, have been allocated to creators and CIC Digital 4. The issuance of TRUMP tokens on Friday follows the unlocking of 200 million tokens on January 18, valued at approximately 1.5 billion dollars. As a result, the TRUMP memecoin has a circulating supply of about 250 million and a maximum supply of 1 billion. The impact of today's unlocking of TRUMP token The memecoin TRUMP has gained significant popularity on the Solana network primarily due to its direct connection with U.S. President Donald Trump. However, this mid-cap memecoin, with a fully diluted valuation of around $7.66 billion and an average trading volume of about $278 million over the past 24 hours, has been stuck in a prolonged downtrend for several weeks. The latest token TRUMP unlocking event will dampen optimistic sentiment in the near future as the dilution from initial investors surges. According to technical analysis, the price of TRUMP is well-prepared for a bullish recovery in the coming weeks. If the price of Bitcoin (BTC) leads the broader altcoin market reflecting gold price action, the price of TRUMP is likely to recover to form a new uptrend.
In the four-hour time frame, the price of TRUMP against the US dollar has formed a reversal pattern characterized by a triple bottom combined with a bullish divergence of the Relative Strength Index (RSI). A continuous closing above the 50-day moving average (SMA) will trigger a bullish rally towards the next liquidity range between 9 and 10 dollars.