Trump, the memecoin linked to the president of the United States, Donald Trump, won more than 9% in the last 24 hours after a tokens unlocking of $ 320 million. The price is now around $ 8.40, even decreasing more than 88% since its peak above $ 71 on January 18.
Recent unlocking can mean more problems for investors, which is estimated to lose a total of $ 2 billion after buying the token earlier this year.
Tokens unlocks generally flood the market with a new offer and tend to depress prices. But in this case, the market seems to have a price in advance in advance, which could explain the increase in the price. Even so, unlocking of $ 320 million increases the risk of great liquidation, especially given Trump’s thin liquidity.
Coinmarketcap data show that only $ 1.3 million could move the token price by 2% in the main exchanges. Moving also occurs during the Easter festive weekend, when commercial volumes are moderate and price changes may be more pronounced.
In social networks, rumors are turning on a possible event for the great tokens headlines, supposedly organized by Trump himself. These statements are still not verified and highly speculative.
Dune Analytics data shows that there are currently 636,000 Trump tokens headlines in the chain, with only 12,285 wallets that have more than $ 1,000 in the cryptocurrency.
