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Donald Trump’s Solana-based memecoin, TRUMP, is heading into a high-pressure week that could drastically reshape its market trajectory. On April 18, the project faces its first major token unlock—one that will release 40 million TRUMP tokens, valued at over $320 million, directly to the team. This will instantly boost the circulating supply by 20%, a move that’s already sending tremors through the crypto community.
First Unlock, Big Risks
This unlock isn’t just another milestone—it’s a test of market confidence. Following Thursday’s release, an additional 493,000 tokens (worth approximately $4 million) will be unlocked daily, continuing until a larger unlock in July. Traders and analysts agree: sudden supply increases, especially during bearish sentiment, often lead to price drops.
TRUMP, which soared to a high of $73.43 in January, has plunged 88% and now trades at just $8.27. The token is also down more than 5% in the last 24 hours. On-chain data shows trading activity has surged 23% ahead of the unlock—not from optimism, but likely from traders repositioning or cashing out.
Holder Base Shrinking
According to Dune Analytics, TRUMP’s holder count has dropped from over 800,000 in January to just 638,000. More tellingly, only 13,000 wallets hold more than $1,000 worth of TRUMP, suggesting most holders are speculative, not long-term believers.
Despite limited utility—like use on Trump-themed platforms such as GetTrumpSneakers.com—the memecoin remains primarily a hype-driven asset.
Also Read: Binance Seeks Oversight Cut, Eyes Trump-Linked Crypto Deal
Technical Outlook: Bearish
Technically, TRUMP is skating on thin ice. It’s hovering just above a critical support at $7.50. A drop below that could trigger a quick fall to $6.80. Resistance lies at $9.20 and $10.90, but momentum appears lacking. The RSI is at 37.37, nearing oversold levels, while bearish 20- and 50-day moving averages hint at continued weakness.
As the unlock countdown ticks down, TRUMP’s future hangs in the balance. Can it survive the dilution—or is a deeper plunge inevitable?
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
