TRUMP will see a large-scale unlocking, with 12,000 addresses holding over $1,000 remaining
ChainCatcher news, according to CoinDesk, Trump's meme coin TRUMP will see a large-scale token unlock next week, with 40 million tokens unlocking 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 severely imbalanced, potentially putting further pressure on the price. Since its launch on January 18, the recent price of TRUMP tokens reached $7.14, with the current price at $8, representing an 83% decrease from its peak value.According to Dune data, the number of TRUMP token holders has dropped from 817,000 at launch to 637,000, with only 12,000 wallets currently holding over $1,000 in TRUMP tokens, a significant decrease from 143,000 on January 19. Token unlocks are typically considered bearish events; however, sometimes the market may price in expectations early, causing prices to drop to new lows before the unlock and then rebound slightly afterward. It is uncertain whether Trump's team will sell the unlocked tokens, but selling on the open market would put short-term pressure on the price. The 2% market depth indicator shows that the current liquidity level of $980,000 to $2 million cannot absorb the $320 million selling pressure.The meme coin craze is gradually fading, with the total market capitalization of meme tokens plummeting from $119 billion in December last year to the current $45 billion.
