A huge unlock of Trump-branded memecoin (TRUMP) tokens is coming soon. This could impact the coin’s price.
$341 Million Unlock Looms
On April 18th, 40 million TRUMP tokens – about 20% of the circulating supply – will be released into the market. This represents a massive $341 million unlock. The current market cap is $1.69 billion, and the fully diluted valuation is $8.48 billion. Token unlocks often lead to price drops because of increased selling pressure.
Recent Downturn
The TRUMP coin has seen a price decline recently, coinciding with the escalation of trade disputes.
Bullish Prediction?
Despite the upcoming unlock, some analysts are optimistic. Crypto trader Ali Martinez, citing the Tom DeMark (TD) Sequential indicator, suggests a potential price reversal. He predicts a possible price increase, targeting $17.94. Currently, TRUMP is trading at $8.37.
Disclaimer: This information is for general knowledge only and is not financial advice. Always do your own research before investing in cryptocurrencies.
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