TRUMP Memecoin Unlock Scheduled for 40 Million Tokens This Thursday
The crypto market anticipates the unlocking of a significant portion of the TRUMP memecoin on Thursday. This event will enable early investors and insiders to sell their holdings for the first time.
Trump Memecoin Overview
- Launched on January 17 with 200 million tokens.
- This week, 40 million additional tokens tied to affiliated groups will be released, totaling 1 billion tokens over three years.
- Market value peaked at approximately $14 billion two days post-launch but has since declined by nearly 90%.
- Trading volume raises concerns about conflicts of interest and future price movements.
Dylan Bane from Messari noted potential selling pressure once tokens are unlocked, but intentions remain unclear. CIC Digital and Fight Fight Fight control 80% of the tokens set for unlocking, although no comment was received regarding their plans.
Current Market Trends
- Despite potential immediate declines, the TRUMP memecoin's value increased by nearly 3% over the past week.
- Edward Chin from Parataxis indicated that proper market-making could mitigate short-term impacts of the unlocks, but long-term effects may weigh on prices.
Trump and his family have expanded their cryptocurrency portfolio, including NFTs, a decentralized finance project, a proposed stablecoin, and a Bitcoin mining venture called American Bitcoin. Melania Trump also launched her own memecoin, MELANIA, contributing to their total portfolio nearing $1 billion in paper gains.
Currently priced at $7.83, the memecoin is down 30% monthly and over 15% in the last two weeks, despite a recent minor rebound.
