Trump Token Surges 16% Amid Impeachment Calls and Major Unlocks
The TRUMP memecoin has increased by approximately 16% in the last 24 hours, despite calls from Democratic lawmakers for President Trump’s impeachment linked to the token's activities. Key points include:
- Sen. Jon Ossoff raised concerns about the token's top holders being invited to a dinner with Trump, suggesting it amounts to selling presidential access.
- Ossoff stated that this could be considered an impeachable offense.
- U.S. Senators Adam Schiff and Elizabeth Warren requested an ethics investigation into Trump's actions regarding the token.
- A private dinner on May 22 will allow the top 220 TRUMP holders to meet Trump.
- The TRUMP token surged over 70% following the dinner announcement, gaining 85% over the past week.
- This rise occurred after a $320 million unlock earlier in the month, which increased circulating supply significantly.
- Another unlock of 25.1% of the current supply is expected within three months, valued at nearly $780 million.
- Despite recent gains, the token is down over 77% from its all-time high above $70, resulting in estimated losses of $2 billion for investors.