Markets, Donald Trump, Memecoin, News Despite the value enhance, the token continues to be down over 88% from its peak and buyers have misplaced a complete of $2 billion.
TRUMP, the memecoin tied to U.S. President Donald Trump, gained greater than 9% previously 24 hours following a $320 million token unlock. The value now sits round $8.40, nonetheless down greater than 88% from its peak above $71 on Jan. 18.
The current unlock might spell additional bother for buyers, who’re estimated to have misplaced a complete of $2 billion after purchasing the token earlier this 12 months.
Token unlocks sometimes flood the market with new provide and have a tendency to depress costs. But on this case, the market seems to have priced within the launch beforehand, probably explaining the value uptick. Still, the $320 million unlock raises the danger of a big sell-off, particularly given TRUMP’s skinny liquidity.
Data from CoinMarketCap reveals that simply $1.3 million may transfer the token’s value by 2% on main exchanges. The transfer additionally comes in the course of the Easter vacation weekend, when buying and selling volumes are subdued and value swings could be extra pronounced.
On social media, rumors are swirling a few attainable occasion for big token holders, supposedly being organized by Trump himself. These claims stay unverified and extremely speculative.
Data from Dune analytics reveals there are presently 636,000 TRUMP token holders on-chain, with simply 12,285 wallets having greater than $1,000 value of the cryptocurrency.
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