TRUMP Memecoin Rises Over 9% Despite $320 Million Token Unlock
TRUMP memecoin increased by over 9% in the last 24 hours, currently priced at approximately $8.40. This follows a $320 million token unlock, though it remains down more than 88% from its peak above $71 on January 18.
- Investors have lost an estimated $2 billion this year.
- Token unlocks typically increase supply and can depress prices; however, the market may have anticipated this release.
- The unlock poses risks of a sell-off, particularly due to TRUMP’s low liquidity.
- Data indicates that $1.3 million can shift the token's price by 2% on major exchanges.
- Current trading volumes are reduced due to the Easter holiday weekend, which may lead to greater price volatility.
- Unverified rumors suggest a potential event for large token holders organized by Trump.
- There are 636,000 TRUMP token holders, with only 12,285 wallets holding over $1,000.