Trump Memecoin Faces $520M Unlock in July as Price Drops 85%
Donald Trump expressed support for his official memecoin as a reflection of public sentiment regarding his leadership. The TRUMP token is currently trading at approximately $10, down 85% from its peak of $73 in January. A significant $520 million token unlock scheduled for July could further depress its price, as 73.52% of the total supply remains locked. On July 18, 25% of the current circulating supply will be released, potentially impacting market dynamics if demand does not increase. Eric Trump attempted to boost confidence by announcing plans for World Liberty Financial to acquire a substantial amount of the tokens, but the market response was minimal. The effectiveness of the TRUMP token as a sentiment gauge may become clearer following the unlock event. Memecoins have been previously discussed as indicators of public sentiment, with some industry figures suggesting that the TRUMP token's fluctuations could reflect broader attitudes toward Trump's presidency.
