President Trump’s Official Memecoin (TRUMP) Faces Massive Token Unlock
President Trump’s official memecoin, TRUMP, is set to undergo a significant token unlock worth approximately $341 million. Tokenomist, a crypto tokenomics data aggregator, reports that 40 million TRUMP tokens will be unleashed onto the open market on April 18th.
This token unlock represents around 20% of the memecoin’s circulating supply, with 199 million TRUMP tokens currently in circulation. TRUMP currently boasts a market cap of $1.69 billion and a fully diluted valuation of $8.48 billion.
Token unlocks are typically viewed as bearish events for crypto assets, as they introduce new supply into the market, potentially increasing sell pressure. The recent escalation of President Trump’s trade war has also had an impact on TRUMP’s value, following the implementation of tariffs on imported goods entering the US.
Despite the impending token unlock, cryptocurrency trader and analyst Ali Martinez remains optimistic about TRUMP’s future. Martinez shared on social media platform X that TRUMP could be gearing up for a bullish reversal based on the TD Sequential indicator on the weekly time frame. This indicator is used to identify potential trend reversal points in technical analysis.
Martinez expressed his bullish sentiment, stating, “The TD Sequential just flashed a buy signal on the TRUMP weekly chart! Key support: $7.13, Breakout confirmation: $11.96, Target: $17.94.”
As of the time of writing, TRUMP is valued at $8.37. Investors and traders are advised to closely monitor the price action of TRUMP to capitalize on potential opportunities in the market.
For more updates and insights on cryptocurrencies, follow us on X, Facebook, and Telegram. Stay informed with email alerts delivered directly to your inbox. Don’t miss out on the latest price movements and trends in the crypto space.
Image Source: Midjourney
By staying informed and leveraging technical analysis tools like the TD Sequential indicator, investors can make informed decisions in the volatile world of cryptocurrencies. Keep an eye on TRUMP’s price movements and be prepared to capitalize on potential bullish reversals in the market.