Odaily News Trump's meme coin TRUMP will have a large-scale token unlock next week, with 40 million tokens unlocked on April 18. The project team will receive tokens worth $320 million, accounting for about 20% of the circulating supply. If the unlocked tokens are sold on the open market, the supply and liquidity ratio will be seriously unbalanced, which may lead to further price pressure. Since its launch on January 18, the recent TRUMP token price has reached $7.14, and the current price is $8, and the value has shrunk by 83% from the high point.
According to Dune data, the number of TRUMP token holders has dropped from 817,000 at the time of the initial launch to 637,000. Currently, only 12,000 wallets hold more than $1,000 TRUMP tokens, a significant decrease from 143,000 on January 19. Token unlocking is usually a negative event, but sometimes the market digests expectations in advance, causing prices to fall to new lows before unlocking and rebound slightly after unlocking. It is not yet certain whether the Trump team will sell the unlocked tokens, but if they are sold on the open market, the price will be under short-term pressure. The 2% market depth indicator shows that the current liquidity level of $980,000 to $2 million cannot bear the selling pressure of $320 million.
The meme coin craze is gradually dissipating, and the total market value of meme tokens has plummeted from $119 billion in December last year to the current $45 billion. (CoinDesk)