TRUMP memecoin under pressure as $320M token unlock looms

Samecoin, based in Solana by Donald Trump, Trump, faces growing market pressure as unlocking massive tokens.

According to data From Tokenomist, on April 18, the project will publish 40 million tokens, worth more than $ 320 million at current prices, to its team. This is Trump’s first major open And add around 20% of the current traffic offer to the market.

After the event, 493,000 Trump, around $ 4 million, will be released daily until the next major unlocking in July. Upcoming unlocks have raised concerns about the potential price impact due to the increase in tokens supply.

Trump is traded at $ 8.27 from press time, down more than 5% in the last day. The token is now 88% lower than its summit of $ 73.43 on January 19, according to Coingecko data. Due to the increase in market activity before unlocking, the volume of exchanges increased by 23% to $ 476 million in the last 24 hours.

The data on the chain indicate a drop in the interest of investors. Dune data dashboard shows that the total number of porter holders has decreased to 638,000, a decrease of 0.3% this week and a huge drop of more than 800,000 holders recorded in January. Less than 13,000 portfolios hold more than $ 1,000 in Trump, which indicates that a large percentage of users has modest and speculative assets.

The technical indicators indicate a downward pressure on the token. The majority of significant medium of moving are lower than the current price of Trump, the exponential medium -sized moving of 20 and 50 days indicate new decreases. A low bullish crossing in the convergence / Mobile average divergence suggests a possible but uncertain recovery, while the relative force index is close to the territory of occurrence at 37.37.

Support is located nearly $ 7.50, where Trump has already seen purchasing interests. The price could evolve around $ 6.80 if it breaks below this level. The resistance is expected to increase nearly $ 9.20 and $ 10.90, which corresponds to the longer term mobile averages.

Even if goods retailers affiliated with Trump as gettrumpsneakers.com can use the same, its price The movement indicates that investors are more interested in speculation than by real world uses. As unlocking is getting closer, traders will keep an eye on the market feeling and price movement.