The Memecoin (Trump) of the president of the United States, will undergo a large unlocking of Token next week, with the team behind the project to receive $ 320 million, about 20% of the circulating offer.
The unlocking could be another blow to the thousands of investors who, according to the reports, lost a collective of $ 2 billion after buying the Token in January.
Currently, Trump is quoted at $ 8.03, after having lost 83% of its value since January 18, two days before Trump was inaugurated as president.
Tokens unlocks are usually bearish events, since they involve flooding the market with a new supply without providing incentives to boost demand. However, sometimes, market prices in these unlocks, before launch, leading to prices to fall to new minimums that go to these events.
Dune data shows that there are 637,000 unique headlines of Token Trump, below 817,000 when it was launched. Now there are also only 12,000 wallets that have more than $ 1,000 in Trump, a figure that has decreased significantly since January 19, when 143,000 wallets had that amount or more.
It is not clear if Trump and his team will download the unlocked memecoins next week, although selling in the open market would be catastrophic since the depth of the market of 2%, a metric used to evaluate liquidity in a range of 2%, is between $ 980 and $ 2 million, which means that $ 320 million of sale would send the price to a spiral of death.
Memecoins, in general, has lost most of its exaggeration after a cycle dominated by retail investors looking to “quickly get rich” in newly minted memecoins, most of which were launched in gloomy agreements where experts would benefit, while other investors would lose.
Memecoin market capitalization is low from $ 119 billion in December to $ 45 billion today, according to Coinmarketcap.
